isMedia Co., Ltd. announced a private placement of 1,362,892 common shares at a price of KRW 11,006 per share for gross proceeds of KRW 14,999,989,352 on February 3, 2022. The transaction will include participation from Myung, Joo-seong for 726,876 shares, CHOI HOLDINGS for 454,297 shares and Kang, Chang-yoon for 181,719 shares.The company will receive funding through third party allotment of capital. The transaction was approved by board of directors of the company.

The transaction is expected to close on April 25, 2022. The securities issued are subject to hold period of one year from issuance.