Equipments Cell Co.,Ltd (KOSDAQ:A160600) announced a private placement of 7,767,126 common shares having a face value of KRW 500 per share at an issue price of KRW 1,500 per share for gross proceeds of KRW 11,650,689,000 on June 21, 2021. The transaction will include participation from returning investor, E Investment&Development Co., Ltd. (KOSE:A093230) for 6,666,666 shares, Employee Stock Ownership Association for 412,000 shares, and Solar Veneta No.1 Investment Association for 688,460 shares. The payment date is on June 29, 2021 and expected date of issuance of shares is July 13, 2021 for the transaction.

Th expected date of acquisition of shares by E Investment&Development Co., Ltd. (KOSE:A093230) is June 30, 2021. The transaction has been approved by the board of directors of the company. The company will issue shares using third party allocation method.

The shares are subject to a hold period of one year from the date of issuance. Post to the transaction, E Investment&Development Co., Ltd. (KOSE:A093230) will hold 70.155 stake in the company.