AIBIT Co., Ltd. (KOSDAQ:A039230) announced a private placement of 5,524,862 common shares of par value KRW 500 issued at KRW 905 per share for gross proceeds of KRW 5,000,000,110 on November 6, 2018. The transaction will include participation from returning investor Bio Support Co., Ltd. for 3,314,917 shares and individual investor Park, Junil for 2,209,945 shares. The shares will be issued through a third party allotment method and will have a lock up period of 12 months. The transaction has been approved by the board of directors of the company and is expected to close on December 5, 2018.