Life Science Technology Inc. announced a private placement of 259,403 Registered redeemable convertible preferred stock at a price of KRW 3,855 each for gross proceeds of KRW 999,998,565 on December 21, 2021. The company is raising funding through third party allocation increase. The transaction will include participation from individual investor Jeong-hwan Kim. The preferred stock will be convertible into 259,403 shares. The repayment period will be from January 30, 2022 and December 29, 2031. The transaction has been approved by the board of directors of the company. The payment date is December 29, 2021.