Acornsoft Co., Ltd announced a private placement of 80,000 shares at a price of KRW 25,000 per share for gross proceeds of KRW 2,000,000,000 on December 17, 2018. The transaction will include participation from Kyobo Bnk Special Purpose Acquisition Company (KOSDAQ:A242040). Post the closing, total number of shares issued by the company will increase from 116,000 to 196,000. The transaction is expected to close on December 19, 2018. The transaction has been approved by the board of directors of the investor.