Sejong Medical Co., Ltd. announced a private placement of 8,038,585 common shares at an issue price of KRW 2,488 per share for gross proceeds of KRW 19,999,999,480 on November 7, 2022. The transaction will include participation from CANARIABIO M Inc. for 8,038,585 shares. The securities have a hold period of one year from the date of circulation of the stock.

The expected date of payment is March 31, 2023. The transaction has been approved by board of directors of the company. The method of capital increase is through third party allocation.