Pregen Inc. announced a private placement of 3,400,000 common shares at an issue price of KRW 500 per share for the gross proceeds of KRW 1,700,000,000 on December 1, 2022. The transaction will include participation from Orient Co.,Ltd for 1,500,000 shares, ORIENT BIO Inc. for 1,440,000 shares, ORIENT WATCH CO.,LTD. for 406,000 shares and individual investors, Daesung Park for 40,000 shares and Jongha Hwang for 14,000 shares. The shares are allotted through 3rd party allotment method and have a holding period of 1 year.

The transaction has been approved by shareholders of the company. The transaction is expected to close on December 16, 2022.