ARIBIO Co., Ltd. announced a private placement of 250,000 shares at a price of KRW 12,000 per share for gross proceeds of KRW 3,000,000,000 on August 17, 2018. The transaction will include participation from new investor, Aconl Co.,Ltd. (KOSDAQ:A033600). The shares will be issued at premium. Post the closing, the number of shares will increase from 10,094,888 to 10,344,888. The shares will be issued through third party allotment method. The shares will have a lock up period of one year. The payment date is August 31, 2018. The transaction has been approved by the board of directors of the company.