Femtobiomed Inc. announced a private placement of 310,075 convertible preferred shares at an issue price of KRW 12,900 per share for gross proceeds of KRW 3,999,967,500 on May 12, 2022. The transaction will include participation from NH Investment & Securities Co., Ltd., Investment Arm. The shares are 100% convertible into 310,075equity shares at an issue price.

The transaction is expected to close on May 27, 2022. The transaction was approved by the board of directors of the company. The company will receive funding through third party allotment of shares.