Optrontec Inc. announced a private placement of 701,261 redeemable preferred shares at a price of KRW 7,130 per share for gross proceeds of KRW 4,999,990,930 on November 30, 2021. The transaction will include participation from Ulmers Manager Innovative Enterprise Fund No. 2 for 490,883 preferred shares and Ulmus-EN Hybrid Equity Fund No.3 for 210,378 preferred shares. The preferred shares carry a par value of KRW 500 per share. The company will issue the securities on third party allocation basis. The conversion price of the preferred shares is the same as the issue price. The preferred shares are convertible into 701,261 common shares from December 14, 2022 to December 12, 2026. The company expects to close the transaction on December 14, 2021. The transaction was approved by the board of directors of the company.