JangWonTech Co., Ltd. (KOSDAQ:A174880) announced a private placement of 3,436,427 common shares at a price of KRW 1,455 per share for gross proceeds of KRW 5,000,001,285 with returning investor Feelux Co., Ltd (KOSE:A033180) on March 16, 2020. The company will issue shares through third party allotment method at a premium to par value of KRW 100 per share. The transaction is expected to close on June 26, 2020.

The transaction has been approved by the board of director's of the company. The securities are subject to one year lock-up period.