Cellumed Co., Ltd. (KOSDAQ:A049180) announced a private placement of 2,400,000 common shares of par value KRW 500 per share at an issue price of KRW 2,500 per share for gross proceeds of KRW 6,000,000,000 on November 26, 2020. The transaction will include participation from Rocket International Co., Ltd for 200,000 shares, individual investors Kim, Eun Ha for 200,000 shares, Lee, Young Duk for 248,000 shares, Hyun, Yoo Myung for 152,000 shares, Kang, Joo Hee for 400,000 shares and returning investor Inscobee., Inc. (KOSE:A006490) for 1,200,000 shares. Post closing, Inscobee., Inc. (KOSE:A006490) will hold 14.4% stake in the company.

The company will raise funding through third-party allocation method. The transaction has been approved by the board of directors of the company. The transaction is expected to close on December 3, 2020.

The shares to be issued are subject to a hold period of 1 year.