NVH Wonbang Tech Inc. announced a private placement of 6,300,000 shares at a price of 10,000 per share for gross proceeds of KRW 63,000,000,000 on June 4, 2018. The transaction will include participation from existing investors, NVH Korea Inc. (KOSDAQ:A067570) for 4,599,000 shares and GH Advanced Materials Inc. (KOSDAQ:A130500) for 1,512,000 shares. The transaction is expected to close on June 7, 2018.

The company will issue 3.15 shares per existing share held. Post the closing; the investors will retain its 100% stake in the company. The transaction has been approved by the board of directors of the company.