CrystalGenomics, Inc. announced a private placement of 6,147,696 shares, and 15,000,000 redeemable convertible preferred shares at the price of KRW 2,952 per share for gross proceeds of KRW 62,427,998,592 on May 19, 2023. The transaction will include participation from new investor New Lake Invites Investment Co., Ltd. and Osung Advanced Materials Co., Ltd. The shares will be issued at a premium and through third party allocation method. The shares will have a lock period of one year.

The transaction has been approved by board of directors of the company. The conversion period is from June 3, 2024 to June 3, 2028. The payment date for the transaction is June 2, 2023.

The shares are convertible into equity shares at an fixed conversion price of KRW 2,952.