Geno Focus, Inc. (KOSDAQ:A187420) announced a private placement of 1,790,694 convertible preferred shares at KRW 17,200 per share for gross proceeds of KRW 30,799,936,800 on October 27, 2016. The shares will be issued through third party allotment. The preferred shares are convertible into common shares of the company at KRW 17,200 per share from November 2, 2017 to October 31, 2021.

The transaction will include participation from new investors NongHyup Bank for 1 523,255 preferred shares, Korea Investment Partners Co. Ltd. for 406,976 preferred shares, IBKC-SBI Bio Fund No. 1, a fund managed by SBI Investment Korea Co., Ltd. (KOSDAQ:A019550) for 151,162 preferred shares, Tigris Fund 3 for 372,093 preferred shares, Future Creation SBI ASEAN-M&A Fund for 58,139 preferred shares, NHN Investment - JAK Fund for 116,279 shares, and Shinhan Capital, Investment Arm for 104,651 shares.

The shares will have lock up period of one year from the date of issuance. The transaction has been approved by board of directors of the company. The transaction is expected to be completed by November 1, 2016.