Redwoods Co.,Ltd (XKON:A266170) announced a private placement of 219,059 common shares at a price of KRW 913 for gross proceeds of KRW 200,000,867 on January 28, 2021. The transaction will involve participation from Fortuna Investment Co., Ltd. The shares will carry a face value of KRW 500 and will be issued at premium. The transaction will take place through third party allotment. The transaction is expected to close on February 5, 2021. The transaction has been approved by the board of directors of the company.