THINKWARE Corporation (KOSDAQ:A084730) announced a private placement of 2,258,000 redeemable convertible preferred stares at a price of KRW 12,936 per share for gross proceeds of KRW 29,209,488,000 on June 1, 2021. The transaction will include participation from new investor, Arges Growth Capital No. 1 Private Equity Limited Partnership. The preferred shares will be convertible into 2,258,000 shares of the company between the period of June 16, 2022 to June 15, 2026. Post the closing, the number of shares have increased from 10,425,682 to ?12,683,682?. The shares will be issued at a premium. The shares will be issued through third party allotment method. The payment date is June 15, 2021. The transaction has been approved by the board of directors of the company.