JW Pharmaceutical Corporation announced a private placement of 142,920 preferred shares at an issue price of KRW 30,871 for the gross proceeds of KRW 4,412,083,320, and 97,073 preferred shares at an issue price of KRW 57,564 for the gross proceeds of KRW 5,587,910,172, for gross aggregate proceeds of KRW 9,999,993,492 on October 20, 2022. The transaction will include participation from Jeonpoint Co., Ltd. The transaction has been approved by the board of directors of the company. The company will raise the funding through third party allotment of shares.

The shares are restricted to a holding period of one year. The transaction is expected to close on October 28, 2022.