Douzone Bizon Co., Ltd. (KOSE:A012510) announced a private placement of 1,805,293 registered redeemable convertible preferred shares Type 1 at an issue price of KRW 83,089 per share for gross proceeds of KRW 149,999,990,077 on August 13, 2019. The transaction will involve participation from new investors, Shinhan Douzone Wehago 1, Shinhan Douzone Wehago 2 for 722,117 shares each. The securities issued in the transaction have a par value of KRW 500 per share. The redemption period for the securities start from August 21, 2022 and ends on August 21, 2029. The conversion period starts from August 21, 2020 and ends on August 21, 2039. The transaction is expected to close on August 20, 2019. The transaction has been approved by the board of director of the company. The securities are issued at a surcharge of 20%.The securities issued in the transaction have a lock up period of one year, post the closing of the transaction.