WIZIT Co., Ltd. (KOSDAQ:A036090) announced a private placement of 6,400,000 common shares at a price of KRW 770 per share for gross proceeds of KRW 4,928,000,000 on December 13, 2019. The transaction will include participation from Eyesvision Corp. (KOSDAQ:A031310).

The common shares have a par value of KRW 500 per share, and will be issued at premium. The company will raise the funding through third party allotment. All securities to be issued will be subject to a hold period of one year.

The transaction has been approved by the board of directors of the company. The payment date is December 24, 2019.