Syntekabio, Inc announced a private placement of 667,908 common shares at a price of 29,495 per share for gross proceeds of KRW 19,699,946,460 on June 5, 2019. The shares will carry a face value of KRW 500 per share. The company will issue 169,520 shares to Yuhan Corporation (KOSE:A000100), 67,808 shares to Timewise Investment Co., Ltd., 57,636 shares to Altos Korea Opportunity Fund 3, L.P.; a fund managed by Altos Ventures, 101,712 shares Saehan Venture Capital Co., Ltd., 67,808 shares to MUST Asset Management Inc., 67,808 shares to Korea Asset Investment Securities Co., Ltd., 33,904 shares to KB Securities Co.,Ltd, 33,904 shares to Meritz Securities Co., Ltd. (KOSE:A008560), 33,904 shares to ASAM Investment Advisory Company Limited and 33,904 shares to HB Advisors Co., Ltd. The shares will be issued through third party allotment.

The proceeds from the transaction will be added to the registered capital of the company. The company expects to close the transaction on June 21, 2019. The transaction was approved by the board of directors of the company.