Myungjin holdings.,Corp. (XKON:A267060) announced a private placement of 384,616 registered preferred shares at a price of KRW 2,600 per share for gross proceeds of KRW 1,000,001,600 on September 17, 2018. The transaction will involve participation from new investors Moru Jangin QVA Hedge Venture Fund for 115,385 shares and Pre-IPO Stocks Hedge Venture Fund 1 for 269,231 shares, funds managed by NH Investment & Securities Co., Ltd., Investment Arm. The shares have a face value of KRW 500 per share and issued at premium. The shares are redeemable. The company will issue securities through third party allotment method. The shares are convertible into 384,616 common shares at a fixed conversion price of KRW 2,600 per share from September 28, 2019 to September 27, 2028. Post the closing, the number of preferred shares of the company will increase from 290,976 to 675,592. The transaction has been approved by the board of directors of the company. The transaction is expected to close on September 27, 2018.