Nongwoobio Co., Ltd. (KOSDAQ:A054050) announced a private placement of 1,730,561 common shares at a price of KRW 16,400 per share for gross proceeds of KRW 28,381,200,400 on December 28, 2017. The transaction will include participation from an existing investor NongHyup Agribusiness Group Inc. The shares are issued at premium and through a third-party allocation. Post the closing of the transaction, the shares issued by the company will increase from 14,300,000 to 16,030,561. The shares issued in the transaction are subject to a lock-up period of one year. The transaction was approved by the board of directors of the company. The transaction is expected to close on April 25, 2018.