Studio 8 Co., Ltd. announced a private placement of 589,830 shares at KRW 29,500 per share for gross proceeds of KRW 17,399,985,000 on August 17, 2018. Each share has a face value of KRW 5,000 and was issued at a premium. The company will issue 0.3658339 shares per 1 existing share. Post the closing of the transaction the shares will increase from 1,612,289 to 2,202,119. The payment date is September 27, 2018. The shares will be issued through shareholder allocation method. The transaction is expected to close on September 28, 2018. The transaction has been approved from board of directors of Barunson E&A Corporation (KOSDAQ:A035620). The company reported total assets of KRW 1,830,014,744 for the year ended December 31, 2017.