Philoptics Co., Ltd. (KOSDAQ:A161580) announced a private placement of 912,281 registered convertible preferred shares at a price of KRW 14,250 for gross proceeds of KRW 13,000,004,250 on October 20, 2020. The shares have a par value of KRW 500 per share. The transaction will include participation from AIP Growth Professional Investment Type Private Equity Trust No. 8 Trustee, AIP Mezzanine Public Stock Specialized Private Equity Venture Investment Trust No. 5 managed by KB Securities Co., Ltd., Investment Arm for 795,439 shares and existing investor AIP Free IPO Public Offering Stock Specialized Investment Type Private Equity Venture Company Investment Trust No. 1 managed by NH Investment & Securities Co., Ltd., Investment Arm for 116,842 shares. The company will receive funding through third party allotment of shares. The preferred shares are convertible into 912,281 common shares of the company at a price same as the issue price of shares. The conversion request period is from October 28, 2021 to October 26, 2025. The transaction has been approved by the board of directors of the company. The transaction is expected to close on October 28, 2020. The shares issued are subject to restriction period of one year.