Holzapfel Effective Microbes Co., Ltd. announced a private placement of 522,032 common shares at an issue price of KRW 20,880 per share for gross proceeds of KRW 10,900,028,160 on April 19, 2022. The transaction was approved by the board of directors of the company. The securities are issued by third party allotment method.

The transaction included participation from returning investors Cosmax Nbt, Inc. for 47,893 shares, Amorepacific Corporation for 119,732 shares, Pyxis Innovations Inc. for 114,943 shares, new investors GU Science Technology Job Creation Fund, a fund managed by GU Equity Partners LLC for 23,946 shares, Friend Smart Balance Fund 1, a fund managed by Friend Investment Partners Co., Ltd. for 71,840 shares and Best Bio Fund 17 for 143,678 shares. The transaction is expected to close on May 10, 2022. The share issued are subjected to one year hold period.