PharmswellBio Co., Ltd. (KOSDAQ:A043090) announced a private placement of 1,343,363 common shares at an issue price of KRW 3,722 per share for gross proceeds of KRW 4,999,997,086 on April 23, 2019. The transaction will involve participation from new investors, Hyunmoo Development Co., Ltd. for 1,074,691 shares and ADE Co., Ltd. for 268,672 shares. The shares have face value of KRW 500. The shares are issued at a discount of 10%. The shares issued in the transaction will have a hold period of 12 months from the date of issuance. The company will issue shares through third-party allotment method. Post the closing, the total number of shares issued by the company will increase from 27,655,844 shares to 28,999,207 shares. The payment date is May 31, 2019. The transaction has been approved by the board of directors of the company.