Korea Materials & Analysis Corp. (KOSDAQ:A043290) announced a private placement of 671,141 common shares at a price of KRW 1,490 per share for gross proceeds of KRW 1,000,000,090 on May 27, 2020. The transaction will include participation from returning investor HB Technology CO.,LTD. (KOSDAQ:A078150).

The company will issue the shares on third party allotment basis. The face value of the shares is KRW 100 per share. The shares will be issued at a premium.

The shares issued in the transaction are subject to a hold period of one year. The company expects to close the transaction on June 4, 2020. The transaction was approved by the board of directors of the company.