Hwail Pharmaceutical Co.,Ltd. announced a private placement of 2,380,953 shares at the price of KRW 2,100 per share for gross proceeds of KRW 5,000,001,300 on February 4, 2022. The transaction will include participation from returning investor Osung Advanced Materials Co., Ltd. for 1,428,572 shares and from new investor Hwail Pharm Co. Ltd., Employee Stock Ownership Association for 952,381 shares.

The company will raise funds third party allocation increase method. The transaction has been approved by the board of directors. The transaction is expected to close on February 28, 2022.

All securities issued in the transaction have a hold period of one year.