Modern Cell & Tissue Technologies, Inc. announced a private placement of 615,384 registered redeemable convertible preferred stock at KRW 6,500 per preferred stock for gross proceeds of KRW 3,999,996,000 on September 29, 2014. New investors Korea Investment Partners Co., Ltd. and Hyundai Venture Investment Corp. will participate with 461,538 and 153,846 shares respectively.

The preferred stock has a face value of KRW 500 per share. The securities have a lock-up period of 1 year. The transaction has been approved by the board of directors of the company.

The redemption will be done with the preferred stock Issue price, the redemption is compounded at 6% interest per annum. The preferred stock shareholder can ask for conversion after 1 month from the date of issuance which is November 14, 2014 to day before October 13, 2024 which is for 10 years. The conversion rate is one common stock per share of preferred stock.

The payment date is October 14, 2014.