Oncocross Co., Ltd announced a private placement of 95,041 convertible registered preferred stock at an issue price of KRW 16,835 for gross proceeds of KRW 1,600,015,235 on May 16, 2022. The transaction included participation from C&M Trading Co., Ltd. for 29,700 shares, for proceeds of KRW 499,999,500, SM VINA Co., Ltd. for 29,700 shares, for KRW 499,999,500 and DB Korea Discovery Co., Ltd. for 35,641 shares for proceeds of KRW 600,016,235. The preferred stock bear dividend rate 1.0% per year.

Each preferred stock is convertible into one common shares. The conversion request period is starting from June 1, 2022 till May 31, 2032. The transaction was approved by the board of directors of the company.

The transaction is expected to close on May 31, 2022.