BioGenetics CO.,LTD. (KOSDAQ:A044480) announced a private placement to issue 564,971 common shares at issue price of KRW 2,655 per share for gross proceeds of KRW 1,499,998,005 on March 26, 2020. The transaction will include participation from returning investor, Livefinancial Co.,Ltd. (KOSDAQ:A036170). The company will raise the funds through third party allocation.

The transaction is expected to close on April 3, 2020. The shares to be issued will have a hold period of one year from the closing of the transaction. The transaction has been approved by the board of directors of the company.