List Biotherapeutics, Inc. announced that it will issue 20,000,000 series A preferred shares at issue price of $3 per share for the gross proceeds $60,000,000 in funding on December 30, 2021. The shares will be convertible in common shares at a price of $3 per share. The transaction will include participation from Hana Untact Digital Innovation Fund for 583,334 shares, Gyeonggi Hana Turn around Fund No.2 for 583,333 shares, Daewon Pharmaceutical Co., Ltd. for 1,000,000 shares, TS 2020-13 M&A Investment Fund for 1,333,334 shares, Tigris Fund No.42 for 1,000,000 shares, Korea Investment & Securities Co., Ltd., Investment Arm for 833,334 shares, Smart SF-WE Untact Fund II for 666,667 shares.

The company will issue shares using third party allocation method. The transaction has been approved by the board of directors of the company. The transaction is expected to close on January 14, 2022.