Life Science Technology Inc. (XKON:A285770) announced a private placement of 259,403 registered redeemable convertible preferred shares at a price of KRW 3,855 per share for the gross proceeds of KRW 999,998,565 on July 2, 2019. The transaction will include participation from Hana Financial Investment Co., Ltd. The transaction will increase capital through 3rd party allotment. The preferred shares are convertible into common shares of the company from a period from July 11, 2020 to July 10, 2029 and redemption period is from July 11, 2021 to July 10, 2029. The transaction is expected to close on July 10, 2019. The transaction has been approved by board of directors of the company.