NewGLAB Pharma CO.,LTD announced a private placement to issue 13,670,000 common shares at an issue price of KRW 500 per share for the gross proceeds of KRW 6,835,000,000 on February 22, 2024. The transaction included participation from new investors H&Y Holdings Co., Ltd. 5,600,000 shares, APIC Co., Ltd. 2,000,000 shares, Namu Invest Co., Ltd. 800,000 shares, Namhwa Corporation 400,000 shares and SLP Co. Ltd. 400,000 shares and individual  investors OO Kim for 1,120,000 shares, OO Yoon 2,000,000 shares, OO 400,000 shares, LeeOO 400,000 shares and Seo OO 150,000 shares.

The transaction has been approved by the shareholders of the company and is expected to closed on March 4, 2024. The securities are restricted to a hold period.