OLIPASS Corporation (KOSDAQ:A244460) announced a private placement of 2,465,252 registered convertible preferred stock of par value KRW 500 at a price of KRW 14,400 per share for gross proceeds of KRW 35,499,628,800 on November 18, 2020. The transaction will include participation fromDB Equity Trust No. 1 for 673,601 shares, Korea Investment & Securities Co., Ltd. for 359719 shares, Saneun Capital Co., Ltd. for 208,333 shares, M&M Investment Co., Ltd. for 208,333 shares, IBKC-MGI New Growth Specialized Pre-IPO Fund, a fund managed by Maple Investment Partners for 138,888 shares, Ebest Investment & Securities Co., Ltd. for 69,444 shares, Jeil Bio Fund for 69,444 shares, UNOi Blockbuster Discovery Venture Fund 1, a fund managed by UNO Investment for 69,444 shares, returning investor Mirae Asset Daewoo Co., Ltd. for 404,159 shares, KB Securities Co., Ltd. for 194,443 shares, and Samsung Securities Co., Ltd. for 69,444 shares. The preferred stock is convertible into 2,465,252 common shares of the company at a conversion price equal to issue price from December 01, 2021 to November 28, 2025. The company will issue shares through a third party allocation. The transaction has been approved by board of directors of the company. The payment date for shares is November 30, 2020. The shares are subject to a lock-up period of one year.