QuantaMatrix Inc. announced a private placement of 1,604,087 common shares of par value, KRW 500 at an issue price of KRW 11,500 for gross proceeds of KRW 18,447,000,500 on October 18, 2021. The transcation will include participation from Sunghoon Kwon, CEO of the company for 267,348 shares, returning investors, The Ezrah Charitable Trust for 1,028,261 shares, Marks And Company LLC for 102,826 shares and Mission Street Pte Limited for 205,652 shares. The transaction has been approved by the board of directors of the company. The transaction is expected to close on November 5, 2021. The securities are being issued through third party allotment. The shares are subject to a hold period of one year. The total number of shares issued before capital increase are 14,872,724 shares.