BIOINFRA Life Science Inc. announced a private placement of 1,132,074 redeemable convertible preferred stock at a price of KRW 5300 for gross proceeds of KRW 5,999,992,200 on July 1, 2019. The funding is being raised through third party allotment method. The transaction will include participation from new investors Korea Investment Partners Co. Ltd. for 566,037 shares, Lion Asset Management Co., Ltd. for 377,358 shares and from Root N Global Investors Co., Ltd. for 188,679 shares. The convertible preferred stock are convertible into common shares from July 18, 2029 to July 16, 2029. The transaction is expected to close on July 16, 2019. All securities issued in the transaction are subject to 1 year hold period.