MAXROTEC Co., Ltd. (KOSDAQ:A141070) announced a private placement 2,262,443 preference shares at KRW 2,210 per share for gross proceeds of KRW 4,999,999,030 on November 20, 2015. The shares will be issued at a discount of 10% per annum. The company will issue the shares via third party allotment to 2015 Hidden Opportunity Investment Fund.

The shares issued as part of the transaction will have a hold period of one year from the date of issuance. The transaction was approved by the board of directors of the company. Each preferred shares is convertible into a common share of the company.

The conversion period will be from December 8, 2016 to December 7, 2026.