FutureChem. Co., Ltd. announced a private placement of 100,000 convertible redeemable preferred shares at KRW 20,000 per share for gross proceeds of KRW 2,000,000,000 on May 18, 2016. The shares have par value of KRW 500 per share and will be issued at premium. The preferred shares are convertible into common shares in equal ratio. The conversion period will start from May 21, 2016 to May 20, 2016. The transaction will include participation from M-Venture Pathfinder Fund 1 for 100,000 shares. The securities will be issued through third party allotment. The transaction is expected to be completed by May 20, 2016. The transaction has been approved by board of directors of the company.