Life Science Technology Inc. (XKON:A285770) announced a private placement of 509,403 registered redeemable convertible preferred stock at a price of KRW 3855 per share for gross proceeds of KRW 1,963,748,565 on December 19, 2019. The transaction will increase capital through third party allotment. The company expects to close the transaction on December 27, 2019. The transaction was approved by the board of directors of the company.