Synergy Innovation Co., Ltd. (KOSDAQ:A048870) announced a private placement of 398,551 common shares at an issue price of KRW 2,070 per share for gross proceeds of KRW 825,000,570 on March 7, 2019. The transaction will involve participation from returning investor Synergy IB Investment Co., Ltd. The shares will be issued at premium having a face value of KRW 500. The company will issue the shares by way of third party allotment method. The transaction has been approved by the board of directors of the company. All the securities to be issued in the transaction are subject to a hold period of one year. The payment date is March 29, 2019.