Lotte Biologics Co., Ltd announced that it will issue 2,308,507 common shares at an issue price of KRW 65,000 per share for gross proceeds of KRW 150,052,955,000 on June 4, 2024. The transaction will include participation from returning investor, LOTTE Corporation for 1,846,800 common shares hold 80% stake in the company. The transaction has been approved by the board of directors.

The company will issue the shares through shareholder allocation paid-in capital increase method. The company will raise the fund through multiple tranches.