Redwoods Co.,Ltd (XKON:A266170) announced a private placement of 131,652 common shares at a price of KRW 5,317 for gross proceeds of KRW 700,000,000 on October 23, 2019. The transaction will involve partiicpation from returning investors, Artemis Investment Advisory Co., Ltd. for 56,422 shares and Pastoral Investment Limited for 75,230 shares. The shares will carry a face value of KRW 500 and will be issued at premium. Post completion of the transaction, the common shares will increase from 2,449,898 to 2,581,550 shares. The transaction will take place through third party allotment. The transaction is expected to close on November 11, 2019. The transaction has been approved by the board of directors of the company.