ALTEOGEN Inc. (KOSDAQ:A196170) announced a private placement of 482,625 registered convertible preferred stock at a price of KRW 155,400 per share for the gross proceeds of KRW 74,999,925,000 on December 14, 2020. The transaction will include participation from new investor SG Core Co., Ltd. The shares will be issued at 10% discount on theoretical ex-rights share price. The preferred shares are convertible into common shares of the company on January 08, 2022 to January 07, 2028. The shares carry dividend rate of 1% per annum. The transaction is expected to close on January 07, 2021. The securities being issued in the transaction are subject to a lock-up period of 1 year. The transaction was approved by board of directors of the company.