Kyung Nam Pharm Co.,Ltd. announced a private placement of 2,250,273 common shares at a price of KRW 9,110 per share for gross proceeds of KRW 20,499,987,030 on May 13, 2019. The transaction will include participation from Liveplex Co.,Ltd. (KOSDAQ:A050120) for 164,654 shares, CTGen Co.,Ltd. (KOSDAQ:A036170) for 164,654 shares, Widwin Investment Co., Ltd. for 164,654 shares, and existing investor, BioGenetics CO.,LTD. (KOSDAQ:A044480) for 1,756,311 shares. The shares will be issued through third party allotment method.

All the shares will have a lock up period of one year. The subscription and payment date is May 23, 2019. The transaction has been approved by the board of directors of the company.