Barun Technology Co.,Ltd. (KOSDAQ:A029480) announced a private placement of 4,665,958 shares at a price of KRW 943 per share for gross proceeds of KRW 4,399,998,394 on December 28, 2017. The transaction will include participation from Barun Electronics Co., Ltd. (KOSDAQ:A064520) for 2,120,890 shares, Lah Co.,Ltd. for 2,120,890 shares and Tae-Sub Kim for 424,178 shares. The shares will be issued at a premium and are issued through third party allotment method.

Post the closing of the transaction, the number of shares will increase from 25,812,587 to 30,478,545. The payment date is December 29, 2017. The transaction has been approved by the board of directors of the company.