New Pride Corporation (KOSDAQ:A900100) announced a private placement of 3,511,450 shares at a price of KRW 655 for gross proceeds of KRW 2,299,999,750 on October 15, 2020. The transaction will include participation from Lux Hoover, LLC. The security will be issued at premium. The transaction will take place through third party allotment. The securities are subject to a hold period of 1 year. The share issued at par KRW 3. The transaction was approved by the board of directors of the company. The transaction is expected to close on October 23, 2020.