K-Box Inc. announced a private placement of 1,600,000 common shares at an issue price of KRW 10,000 for gross proceeds of KRW 16,000,000,000 on July 4, 2018. The transaction will involve participation from returning investor JTC Inc. (KOSDAQ:A950170). The investor will retain 100% stake in the company. The company will issue shares through third party allotment method. Post the closing of the transaction, the shares issued by the company will increase from 900,000 to 2,500,000. The transaction was approved by the board of directors of the investor. The transaction is expected to close on July 20, 2018.