CIAAT Co., Ltd. (XKON:A103660) announced a private placement of 300,000 redeemable convertible preferred shares of par value KRW 500 per share at a price of KRW 5,000 per share for gross proceeds of KRW 1,500,000,000 on June 7, 2017. The transaction will include participation from 2015 HB Technology Industrialization Venture Investment Fund, a fund managed by HB Investment, Inc. The shares will be issued through third party allotment method. The preferred shares can be converted into 300,000 common shares from June 11, 2017 to May 10, 2027, and are redeemable from June 11, 2020 to June 10, 2027. The transaction has been approved by the board of directors of the company. The payment date of transaction is June 9, 2017.