Biolog Device Co., Ltd. announced a private placement and it will issue 5,949,367 common shares at an issue price of KRW 790 per share for gross proceeds of KRW 4,699,999,930 on November 23, 2023. The common shares have a face value of KRW 100 per share. The transaction will include participation from returning investor, Noorim D&C Corporation.

The company will issue shares through third party allocation method. The shares will be locked up for a period of one year. The payment date for the transaction is December 7, 2023.

The transaction has been approved by board of directors of the company.