EHWA Technologies Information Co. Ltd. (KOSDAQ:A024810) announced a private placement of 116,279,069 common shares at an issue price of KRW 215 per share for an aggregate gross proceeds of KRW 24,999,999,835 on August 22, 2019. The common shares have a par value of KRW 200 per share.

The share will be issued at a premium of 10%. The shares are issued through third party allocation will have lock in period of 1 year. The transaction will include participation from returning investor E-Tron Co., Ltd. (KOSDAQ:A096040).

The transaction has been approved by the board of directors of the company. The transaction is expected to close on October 11, 2019.