YIDOBIO Inc. (XKON:A336040) announced a private placement of 145,262 convertible preferred shares at a piece of KRW 19,000 per share for gross proceeds of KRW 2,759,978,000 on January 28, 2021. The transaction will include participation from Lee, Yong-jin for 36,842 shares, Lee, Jongmok for 15,789 share, Global Trading co.ltd for 21,053 shares , Seungho Choi for 15,789 shares, Seong, Chiyoon for 20,000 shares, Kim, Ji-eun for 20,000 shares , Eunjoo Bae for 5,263 shares, Park, Jeom-suk for 5,263 shares, and Korea Medix, Inc. for 5,263 shares. The shares will carry a face value of KRW 500 and will be issued at premium. The transaction will take place through third party allotment. The convertible preferred shares will convert into common shares of the company. The conversion period is from February 17, 2021 to February 05, 2030. The transaction will take place through third party allotment .The transaction is expected to close on February 16, 2021. The transaction has been approved by board of directors of the company.