Bio Protech Inc. announced a private placement of 1,999,998 registered convertible redeemable preferred stock at an issue price of KRW 750 per share for the gross proceeds of KRW 1,499,998,500 on December 2, 2021. The transaction will involve participation from returning investors Mijin Company Co., Ltd and Sanremo Corporation and Dae-yoon Jeong for 666,666 shares each through 3rd party allocation. The shares are convertible into common shares, which can be converted from December 30, 2021 to December 28, 2031 and will be redeemable from December 29, 2023 to December 28, 2031. The transaction has been approved by board of directors of the company. The payment date is December 28, 2021. The shares to be issued will have a hold period of one year, post the closing.