SMCore.Inc (KOSDAQ:A007820) announced a private placement of 4,670,255 common shares at a price of KRW 7,396 per share for gross proceeds of KRW 34,541,205,980 on November 28, 2016. The transaction will include participation from new investor SK Holdings Co., Ltd. The shares will have lock in period of 1 year. The company will raise the funding through third party allocation method.

The transaction has been approved by the board of directors of the company. The transaction is expected to close on January 10, 2017. The listing date of the shares would be January 14, 2017.