Plumbline Life Sciences, Inc. announced a private placement of 114,600 convertible preferred shares of par value, KRW 500 at a price of KRW 11,000 per share for gross proceeds of KRW 1,260,600,000 on August 19, 2021. The transaction will include participation Shin, Yong-ju for 30,000 shares, Seazone Co., Ltd. for 30,000 shares, Choi, Kwang-woo for 10,000 shares, Shin, Kyun-Lee for 10,000 shares and other investors. The shares are participating and cumulative. The preferred shares will be redeemable and will be convertible from August 28, 2021 to August 27, 2026. Each preferred share will be convertible into one common share of the company. The transaction has been approved by board of directors. The preferred shares will be issued through third party allotment method. The payment date is August 27, 2021.