Vidente Co., Ltd. announced a private placement of 1,936,734 convertible preferred shares at a price of KRW 15,490 per share for gross proceeds of KRW 30,000,009,660 on November 18, 2021. The transaction will include participation from returning investor INBIOGEN CO.,Ltd. Post the closing of the transaction, the investor will hold 16.69% stake in the company. The company will issue the securities on third-party allocation basis.

The company expects to close the transaction on January 28, 2022. The transaction was approved by the board of directors of the investor.