UBCare Co., Ltd. (KOSDAQ:A032620) announced a private placement of 11,910,669 common shares at a price of KRW 4,030 per share for gross proceeds of KRW 47,999,996,070 on March 8, 2018. The transaction will involve participation from Kakao Investment Co.,Ltd for 10,421,836 shares and individual investor Seungwon Park for 1,488,833 shares. The shares will be issued at a premium. The shares will be issued by a way of third party allotment. Post the closing of the transaction, the total number of shares issued by the company will increase from 40,286,470 to 52,197,139. The transaction is expected to close on April 27, 2018. The shares will be subject to a lock-up period for 1 year from the date of closing. The transaction has been approved by the board of directors of the company.