Sapphire Technology Co., Ltd (KOSDAQ:A123260) announced a private placement of 4,000,000 common shares at a price of KRW 2,340 for gross proceeds of KRW 9,360,000,000 on January 31, 2018. The transaction will involve participation from new investor Seo-ho Co., Ltd. The common shares will be issued at a premium. The common shares will be issued by a way of third party allotment. The common shares will be subject to a lock-up period of 12 months from the date of closing. The transaction is expected to close on February 13, 2018. The transaction has been approved by the board of directors of the company.