Springcloud Inc. announced a private placement of 59,804 common shares at a price of KRW 5,100 per share for gross proceeds of KRW 305,000,400 on June 1, 2018. The translation will include participation form Younghwa Tech Co., Ltd. (KOSDAQ:A265560). The transaction was approved by the board of directors of the investor. The transaction is expected to close on June 5, 2018. The company reported total assets of KRW 649,000,000, total liabilities of KRW 264,000,000, revenue of KRW 117,000,000, and net profit of KRW -73,000,000 for the year ended December 31, 2017.