Sapphire Technology Co., Ltd. (KOSDAQ:A123260) announced a private placement of 4,754,360 shares of par value KRW 500 issued at a price of KRW 631 per share for the gross proceeds of KRW 3,000,001,160 on June 18, 2019. The transaction will include participation from DY Education Co., Ltd. The shares will be issued through third party allotment. The transaction is expected to close on July 2, 2019. The transaction is approved by board of directors of the company. The securities issued in the transaction have a lockup period of one year.