Neofect Co.,Ltd announced a private placement to issue 2,722,323 shares at an issue price of KRW 1,102 per share for the gross proceeds of KRW 2,999,999,946 on December 6, 2023. The transaction will include participation from new investor Kyowon Life, Inc. for 874,890 shares. The transaction has been approved by the shareholders of the company and is expected to close on November 17, 2023.

The shares are restricted to a hold period of one year.