ToolGen Incorporated (XKON:A199800) announced a private placement of 132,626 common shares at a price of KRW 75,400 per share for gross proceeds of KRW 10,000,000,400 on December 11, 2020. The transaction will include participation from Genexine, Inc. (KOSDAQ:A095700). The company issued share at par value KRW 500 par share.

The transaction will take place through third party allotment. The securities are subject to a hold period of 1 year. The transaction was approved by the board of directors of the company.

The transaction is expected to close on December 21, 2020.