Genome & Company (XKON:A314130) announced a private placement of 555,401 registered convertible preferred shares at a price of KRW 36,010 per share for gross proceeds of KRW 19,999,990,010 on August 26, 2020. The transaction will include participation from Korea Development Bank, Investment Arm. The shares have a face value of KRW 500 per share, and will be issued at premium. The shares are convertible into 555,401 common shares at a fixed conversion price of KRW 36,010 per share from September 4, 2020 to September 4, 2030. The company will raise funding through third party allocation method. The transaction has been approved by the board of directors of the company, and is expected to close on September 3, 2020.