Shin Heung Energy & Electronics Co.,Ltd. announced a private placement of 1,338,688 convertible preferred stock at a par value of KRW 2,500, at an issue price of 74,700 for gross proceeds of KRW 99,999,993,600 in funding on September 7, 2021. The transaction include participation form JKL Partners Inc for 451,883 shares, STIC Investments, Inc for 451,883 shares, DH Investment Co., Ltd. for 301,054 shares and Korea Development Bank for 133,868 shares. The transaction was approved the board of directors of the company. The securities issued are subjected to one year hold period. The transaction is expected to close on October 14, 2021. The securities are issued through third party allotment. On September 8, 2021, the company announced that STIC Investments, Inc will not be a investor any more. The transaction include participation form Stick Global Innovation Growth Private Equity Joint Venture for 451,883 shares.