Cube Entertainment Inc. (KOSDAQ:A182360) announced a private placement of 6,527,761 common shares at an issue price of KRW 2,160 per share for gross proceeds of KRW 14,099,963,760 on April 3, 2020. The transaction will involve participation from new investors Bioplus Co., Ltd for 462,962 shares, SnBJ Co., Ltd. for 138,888 shares, individual investors including Seunggon Kang, Kim Yeon-hee, Lee Woo-pyeong, Yongjae Choi, and Jeong Cheol for 1,388,888 shares. The shares have face value of KRW 100.

The shares are issued at a discount of -9.93%. The shares issued in the transaction will have a hold period of 12 months from the date of issuance. The company will issue shares through third-party allotment method.

Post the closing, the total number of shares issued by the company will increase from 26,573,767 shares to 33,101,528 shares. The payment date is April 29, 2020. The transaction has been approved by the board of directors of the company.