Sugentech Incorporated (XKON:A253840) announced a private placement of 148,514 redeemable convertible preferred stock at a price of KRW 20,200 for gross proceeds of KRW 2,999,982,800 on August 23, 2018. The redeemable convertible preferred stock being issued is convertible into common shares of the company between September 4, 2018 and September 3, 2028. The transaction involved participation from Dayli Empowering Bio Healthcare Fund 1 for 148,514 redeemable convertible preferred stocks. The payment date of the transaction is September 3, 2018. The transaction has been approved by the board of directors of the investor. The company will issue securities through third party allotment.