Lotte Biologics Co., Ltd announced that it will issue 1,846,800 common shares at an issue price of KRW 65,000 per share for gross proceeds of KRW 120,042,000,000 on June 24, 2024. The transaction will include participation from returning investor, LOTTE Corporation for 1,846,800 common shares to hold the majority stake in the company. The transaction has been approved by the board of directors.

The company will receive money in two tranches, first tranche on July 9, 2024, and second tranche on August 20, 2024.