Access Bio, Inc. (KOSDAQ:A950130) announced a private placement of 2,840,102 common shares at an issue price of KRW 3,521 per share for gross proceeds of KRW 9,999,999,142 on July 3, 2019. The transaction will involve participation from new investor Wooridul Pharmaceutical Limited (KOSE:A004720). The shares will be issued through third party allotment, will carry a face value of KRW 58, and will be issued at a premium.

The shares have a hold period of one year. Post-closing of the transaction, the shares of the company will increase from 27,064,930 to 29,905,032 shares. The transaction is expected to close on August 20, 2019.

The shares are eligible for dividend payout from January 1, 2019. The transaction has been approved by the board of directors of the company.