Bioneer Corporation (KOSDAQ:A064550) announced a private placement of 79,541 convertible redeemable preferred shares at an issue price of KRW 12,572 per share for gross proceeds of KRW 999,989,452 through third-party allotment on May 20, 2020. The shares have a face value of KRW 500 per share and can be redeemed at a price of KRW 12,572 between May 22, 2022 and May 21, 2025. The payment date is May 21, 2020. The transaction will include participation from returning investors IBK Capital Corporation. The transaction has been approved by the board of directors of the company. The shares to be issued are subject to a hold period.