Myungjin holdings.,Corp. (XKON:A267060) announced a private placement of 205,761 registered redeemable convertible preferred stock at a price of KRW 2,430 for gross proceeds of KRW 499,999,230 on November 14, 2018. The transaction will include participation from new investor MUST Holdings Inc.. The shares will have a face value of KRW 500 and will be issued at a premium of KRW 1,930. The company will issue securities through third party allotment method. The shares will be convertible from November 23, 2018 to November 21, 2028. The shares can be redeemed from November 22, 2019 to November 22, 2028. Prior to the transaction, the company has 7,008,926 common shares. Post the transaction, the total number of registered redeemable convertible preferred stock will increase from 840,202 to 1,045,963. The payment date is November 22, 2018.