Orient Precision Industries Inc. (KOSDAQ:A065500) announced a private placement of 6,973,500 common shares at KRW 717 per share for gross proceeds of KRW 4,999,999,500 on April 4, 2017. The transaction will include participation from returning investors ORIENT BIO Inc. (KOSE:A002630) for 5,578,800 shares and Mdas Inc. for 1,394,700 shares. The company will issue shares at premium as shares have a par value of KRW 500 per share.

The company will issue securities through third party allotment method. The securities to be issued are subject to a hold period of one year. The payment date is April 5, 2017.

The transaction has been approved by the board of directors of the company.