Neofect Co.,Ltd announced a private placement of 5,145,797 common shares at a price of KRW 1,166 per share for the aggregate gross proceeds of KRW 5,999,999,302 on October 20, 2023. The transaction will include participation from new investor, Lxwidwin investment Fund 1 for 5,145,797 shares. The company will issue shares through third-party allotment.

The transaction is expected to close on November 24, 2023. The transaction has been approved by the board of directors of the company.