MEDIZEN HUMANCARE Inc. announced a private placement of 140,000 convertible preferred share at a price of KRW 14,000 per share for gross proceeds of KRW 1,960,000,000 on January 20, 2023. The transaction will include participation from Daesang Well Life Co., Ltd. The shares will be issued through third party allotment method. The redemption period will start from February 01, 2023 and will end on January 29, 2033.

The preferred shares will be convertible into 140,000 shares of the company. The payment date is January 30, 2023. The transaction has been approved by the board of directors of the company.