JangWonTech Co., Ltd. (KOSDAQ:A174880) announced a private placement of 2,642,008 common shares at a price of KRW 757 per share for gross proceeds of KRW 2,000,000,056 on March 18, 2021. The transaction will include participation from existing investor, Feelux Co.,Ltd. The company will issue shares through third party allotment method at a premium to par value of KRW 100 per share. The security will be issued at 10% discount.

The transaction is expected to close on March 26, 2021. The transaction has been approved by the board of directors of the company. The securities are subject to one year lock-up period.

The company has 72,001,306 total number of issued shares.