Dreamus Company (KOSDAQ:A060570) announced a private placement of 13,135,673 registered convertible preferred shares at a price of KRW 5,329 per share for gross proceeds of KRW 70,000,001,417 on April 30, 2021. The company is raising funding through third party allotment method. The transaction will include participation from new investor Neospes LLC. The preference shares will be convertible into 13,135,673 common shares of Dream Earth company. The conversion period will start from June 16, 2022 to June 15, 2031. The payment date is June 15, 2021. All securities issued ill be subject to a hold period of one year. The transaction has been approved by the board of directors of the company.