S&S TECH Corporation (KOSDAQ:A101490) announced a private placement of 1,716,116 common shares at an issue price of KRW 38,420 per share for gross proceeds of KRW 65,933,176,720 on July 31, 2020. The transaction will involve participation from Samsung Electronics Co., Ltd. (KOSE:A005930). The shares have face value of KRW 500.

The shares are issued at a premium of 10%. The shares issued in the transaction will have a hold period of 12 months from the date of issuance. The company will issue shares through third-party allotment method.

Post the closing, the total number of shares issued by the company will increase from 19,735,331 shares to 21,451,447 shares. The payment date is August 14, 2020. The transaction has been approved by the board of directors of the company.