Neofect Co.,Ltd announced a private placement of 4,163,197 common shares at the price of KRW 1,201 per share for gross proceeds of KRW 4,999,999,597 on October 10, 2023. The transaction will include participation from new investor The Able No.5 Fund. The company will issue shares of par value of KRW 500 per share through third party capital increase method. The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 25,692,943 shares to 29,856,140 shares. The transaction has been approved by board of directors of the company. The payment date for the transaction is November 17, 2023.

On November 10, 2023, the company announced that the transaction will now include participation from new investor Cheongdam Medicare New Technology Association 1.

All shares to be issued through this rights increase will be protected for one year