GeneOne Life Science, Inc. announced a private placement of 1,565,218 common shares at the price of KRW 2,300 per share for gross proceeds of KRW 3,600,001,400 on March 21, 2024. The transaction will include participation from new investor Younggeun Park for 1,304,348 shares; Byeong-moon Jo for 130,435 shares; Seongho Choi for 21,739 shares; Jae-kyung Chae for 60,000 shares; Hee-jeong Go for 26,957 shares; and Hyunwoong Choi for 21,739 shares. The company will issue shares of par value of KRW 1,000 per share through third party allocation method.

The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 78,473,817 shares to 80,039,035 shares. The transaction has been approved by board of directors of the company.

The payment date for the transaction is March 28, 2024.