Signet Ev Inc. (XKON:A260870) announced a private placement of 2,620,087 registered convertible preferred shares at a price of KRW 11,450 per share for gross proceeds KRW 29,999,996,150 on December 18, 2018. The preferred shares will be issued at par. The 2,300,000 preferred shares are convertible into 2,300,000 common shares of the company from January 27, 2019 to December 24, 2028 and 320,087 preferred shares are convertible into 320,087 common shares of the company from January 28, 2019 to December 27, 2028. The transaction was approved by the board of directors of the company. The transaction will close in tranches. The transaction will include participation from Rio PEF 1. The securities are subject to a hold period of 1 year. The transaction will take place through third party allocation method. The company is expected to issue 2,300,000 shares on December 26, 2018 and 320,087 shares on December 27, 2018.