MFM KOREA Co., Ltd. announced a private placement to issue 7,058,823 common shares at an issue price of KRW 1,275 per share for the gross proceeds of KRW 8,999,999,325 on January 22, 2024. The transaction will include participation from new investor, Reverse Aging Holdings. The company will issue shares through third-party capital increase.

The transaction is expected to close on March 26, 2024. The transaction has been approved by the board of directors of the company.