DNA Chip Research Inc. announced that it will issue 523,364 shares of common stock at an issue price of Ñ535 per share for gross proceeds of Ñ279,999,740 on January 23, 2023. The transaction will include participation from Mitsui Chemicals, Inc. The company shall issue the securities using third party allocation method. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on February 21, 2023. The company will incur total issuance expenses ofáÑ14,000,000 and will raise estimated net proceeds of Ñ265,999,740 in the transaction.