Plumbline Life Sciences, Inc. announced a private placement of 110,700 common shares at an issue price of KRW 5,420 per share for the gross proceeds of KRW 599,994,000 on July 3, 2023. The transaction will include participation from new individual investors Myungjun Kang for 36,900 shares, Byungsoo Kang for 36,900 shares and Mikyung Kim for 36,900 shares. The company will issue shares through third party allocation increase method.

The transaction has been approved by the board of directors of the company. The transaction is expected to close on July 14, 2023.