GOODPEOPLE Co., Ltd. (KOSDAQ:A033340) announced a private placement of 4,840,270 shares at a price of KRW 2,066 per share for gross proceeds of KRW 9,999,997,820 on June 11, 2020. The transaction will include participation from new investor, Lf F Co., Ltd. for 3,388,180 common shares and Tenby Holdings Co., Ltd. for 1,452,090 common shares. The shares will be issued at a premium of 10%. The shares will have a lock up period of one year. The shares will be issued through third party allotment method. Post the closing, the number of shares will increase from 29,908,224 to 34,748,494. The payment date is August 11, 2020. The transaction will be raised through third party allocation method and it is approved by the board of directors of the company.