Scioto Biosciences, Inc. announced a private placement of 7,738,976,190 (18,315,018 shares) shares at an issue price of $0.00084 (KRW 420.87591) per share for gross proceeds of $6,500,740 (KRW 7,708,349,867) on August 7, 2020. The investor will acquire 52% stake. The transaction has been approved by the board of directors of the company. The transaction is expected to close on August 11, 2020.