STCube, Inc. (KOSDAQ:A052020) announced a private placement of 1,325,380 registered convertible preferred share at an issue price of KRW 7,545 per share for gross proceeds of KRW 9,999,992,100 on December 18, 2020. The transaction included participation from Hyung-soon kim for 662,690 shares and from new investor Newgreen Co. Ltd. for 662,690 shares. The company is raising funding through third-party allotment method. The payment date is December 28, 2020. All securities issued in the transaction have a hold period of one year. The transaction has been approved by the board of directors.