Life Semantics Corp. announced that it will issue 150,150 common shares at a price of KRW 33,300 per share for the gross proceeds of KRW 4,999,995,000 on June 15, 2018. The transaction will include participation from new investor, Carelabs Co., Ltd. (KOSDAQ:A263700).

The transaction is exxpected to close on June 19, 2018. The transaction was approved by board of directors of the investor. Post closing of acquisition and transaction, the investor will hold 18.43% stake in the company.

The compnay reported sales of KRW 2,468,000,000, net income of KRW -3,656,000,000, and total assets of KRW 2,829,000,000 during the year ended December 31, 2017.