Vidente Co., Ltd. announced a private placement of 1,536,099 convertible preferred shares at a price of KRW 19,530 per share for gross proceeds of KRW 30,000,013,470 on November 23, 2021. The transaction will include participation from returning investor INBIOGEN CO.,Ltd. Post the closing of the transaction, the investor will hold 16.21% stake in the company. The company will issue the securities on third-party allocation basis.

The company expects to close the transaction on February 4, 2022. The transaction was approved by the board of directors of the investor.