GeumVit Corp (KOSDAQ:A045890) announced a private placement of 5,278,592 common shares of par value KRW 500 at a price of KRW 682 per share for gross proceeds of KRW 3,599,999,744 on June 30, 2020. The transaction will include participation from new investor, Corporation Kuns ENT. The transaction has been approved by board of directors of the company. The shares are being issued at premium through a third party allotment and are subject to a lock-up period of one year. The subscription date and payment date for shares is June 30, 2020 and July 8, 2020 respectively.