PAXNet, Inc announced a private placement of 300,000 common shares of par value KRW 500 at a price of KRW 1,000 for gross proceeds of KRW 300,000,000 on July 6, 2021. The transaction will involve participation from new investor i Retails Co., Ltd., through third party allotment. The expected closing date of the transaction is July 22, 2021. The dividend date of shares is January 1, 2021 and expected date of issuance of new shares is August 6, 2021. The transaction has been approved by the board of the directors of the company.