SillaJen, Inc. (KOSDAQ:A215600) announced a private placement of 18,750,000 shares at an issue price of KRW 3,200 per share for gross proceeds of KRW 60,000,000,000 on May 31, 2021. The transaction will involve participation from returning investor M2N Co.,Ltd (KOSDAQ:A033310). The face value of the shares to be issued is KRW 500 per share.

The company will raise funding through third party allocation increase method. The payment date is July 15, 2021. The shares have a hold period of three years, post the closing.