Myungjin holdings.,Corp. (XKON:A267060) announced a private placement of 368,731 registered redeemable convertible preferred stocks at an issue price of KRW 2,712 per share for gross proceeds of KRW 999,998,472 on December 6, 2018. The transaction involves participation from new investor, Orbit No. 1 New Technology Business Investment Fund, a fund managed by Orbit Partners Limited for 368,731 preferred shares. The shares issued will have a hold period of one year from the date of issuance. The company will issue shares through third party allotment method. The shares are issued at premium. The shares have a face value of KRW 500. The redemption period of shares is between December 5, 2020 and December 5, 2030. The conversion period of shares is between December 15, 2018 and December 13, 2028. The payment date is December 14, 2018. The transaction has been approved by the board of directors of the company.