Kornic Glory Co.,Ltd. (KOSDAQ:A094860) announced a private placement of 2,989,533 common shares at KRW 669 per share for gross proceeds of KRW 1,999,997,577 on September 18, 2019. The shares carry a par value of KRW 100 each. The transaction will include participation from new investors, Finetechnix.

Co.,Ltd. (KOSDAQ:A106240) for 747,384 shares, Biz & Co., Ltd. for 747,384 shares, WIZ CORP, Inc. (KOSDAQ:A038620) for 149,476 shares, Cimax Commuications Co., Ltd. for 149,476 shares, SLimenergy Co., Ltd. and Chan Joong Park for 448,430 shares each, and Jung Sun Kim for 298,953 shares. The transaction is by way of third party capital increase. The payment date for the shares is expected on September 26, 2019.

The shares are subject to a hold period of one year from the date of issue. The transaction has been approved by board of directors of the company.