Life Science Technology Inc. (XKON:A285770) announced a private placement of 350,000 registered redeemable convertible preferred shares at a price of KRW 4,220 per share for the gross proceeds of KRW 1,477,000,000 on June 14, 2018. The transaction will include participation from KTB KOSDAQ Venture Securities Investment Trust for 310,000 shares and KTB KOSDAQ Venture Securities Investment Trust 2 for 40,000 shares. The preferred shares are convertible into common shares of the company from a period from June 23, 2019 to June 22, 2028. The transaction is expected to close on June 22, 2018. The transaction was approved by board of directors to the company.