Signet Systems Inc. announced a private placement of 8,663 preferred shares at a price of KRW 3,000,000 per share for gross proceeds of KRW 25,989,000,000 on December 18, 2018. The transaction will include participation from new investor Signet Ev Inc. (XKON:A260870) for 4,332 shares, and other investors. Signet Ev Inc. (XKON:A260870) will acquire 49.99% stake in the company through the transaction. The transaction was approved by the board of directors of the investor. The transaction is expected to close on December 27, 2018. The company reported total assets of KRW 10,839,000,000, total liabilities of KRW 20,247,000,000, sales of KRW 7,444,000,000, and net profit of KRW -6,750,000,000 for the year ended December 31, 2017.