Hucentech Co., Ltd. announced a private placement of 5,309,733 redeemable convertible preferred shares at an issue price of KRW 1,130 per share for gross proceeds of KRW 5,999,998,290 on April 13, 2021. The transaction will involve participation from Port Hamilton Association No. 1 for 4,424,778 shares, and For Future Angel Fund No. 1 for 884,955 shares. The shares will be issued through third party allotment, will carry a face value of KRW 100. The transaction has been approved by the board of directors of the company. The repayment period will start from April 22, 2022 and end on April 21, 2026. The preferred shares have a hold period of one year, post the closing. The payment date is April 21, 2021.