TSI Co., Ltd. (XKON:A277880) announced a private placement of 353,683 convertible and redeemable preferred shares at a price of KRW 5,650 per share for gross proceeds of KRW 1,998,303,300 on May 29, 2018. The transaction will involve participation from Neoplux Technology Valuation Investment Fund and Gyeonggi-Neoplux Superman Fund for 176,841 shares each. The preferred shares will be convertible into 353,682 common shares of the company between June 9, 2018 and June 7, 2028. The bonds can be redeemed by the company between June 9, 2021 and June 8, 2028. The shares will be issued by a way of third party allotment. The shares will be issued at a premium. The transaction is expected to close on June 8, 2018. The transaction has been approved by the board of directors of the company.