Jincostech Co., Ltd. (XKON:A250030) announced a private placement of 45,454 redeemable convertible preferred shares at an issue price of KRW 11,000 per share for gross proceeds of KRW 499,994,000 on August 18, 2020. The transaction will involve participation from MUST Holdings Inc. The shares have face value of KRW 500. The shares are issued at a premium of 72.29%. The shares issued in the transaction will have a hold period of 12 months from the date of issuance. The company will issue shares through third-party allotment method. Post the closing, the total number of preferred shares issued by the company will increase from 399,800 shares to 445,254 shares. The preferred shares will convert into registered shares. The conversion period is between August 27, 2020 to August 25, 2030. The payment date is August 26, 2020. The transaction has been approved by the board of directors of the company.