Sugentech Incorporate (XKON:A253840) announced a private placement of 1,033,334 Redeemable convertible preferred stock for the gross proceeds of KRW 12,400,008,000 on June 13, 2017. The shares are issued through third party payment method. The transaction has been approved by board of directors. The transaction included participation from T.S 2015-9 Growth Strategy M&A Investment Fund for 583,334 shares, Future Creation SBI ASEAN-M&A Fund for 166,666 shares, Korea Development Bank for 166,667 shares, Chungcheong Region Startup Accelerating Fund for 83,333 shares and ETRI Holdings Co., Ltd. for 33,334 shares. The conversion period is from June 14, 2017 to June 13, 2027.