Adaptive Plasma Technology Corp. announced a private placement of 1,554,770 preferred shares at an issue price of KRW 14,150 for the gross proceeds of KRW 21,999,995,500 on November 4, 2022. The transaction will include participation from B&W Ace Private Equity Joint Venture Company.

The transaction has been approved by shareholders of the company. The shares are fully convertible into 1,554,770 common shares from November 15, 2023 - October 15, 2032. The shares have a holding period of 12 months.

The transaction is expected to close on November 14, 2022.