P&H Tech Co., Ltd. announced a private placement of 264,000 convertible and redeemable preferred shares of face value KRW 500 each and 60,000 common shares at KRW 8,330 per share by third party allotment for gross proceeds of KRW 2,199,120,000 and gross proceeds 499,800,000 respectively for aggregate gross porceeds of KRW 2,698,920,000 on October 12, 2017. The round will include participation from Daesung Secondary Investment Fund, a fund managed by Daesung Private Equity, Inc. (KOSDAQ:A027830) for 84,000 convertible and redeemable preferred stock, and KB KONEX Activation Fund for 180,000 convertible and redeemable preferred stock. The conversion period of the shares will be from October 16, 2017 till October 15, 2027 and the redemption period will be from October 16, 2019 till October 15, 2027.

The payment date of the transaction is October 13, 2017. The transaction was approved by the board of directors of the company.