Robostar Co., Ltd. (KOSDAQ:A090360) announced a private placement of 1,950,000 common shares at a price of KRW 27,471 per share for gross proceeds of KRW 53,568,450,000 on May 29, 2018. The transaction will involve participation from LG Electronics Inc. (KOSE:A066570). The shares will be issued by a way of third party allotment.

The shares will be issued at a premium. The transaction is expected to close on July 17, 2018. The securities issued will be subject to a hold period of 12 months from the date of issue.

The transaction has been approved by the board of directors of the company. Post the closing of the transaction, the total number of shares issued by the company will increase from 7,800,000 to 9,750,000.