Cafe24 Corp. announced a private placement and it will issue 1,755,856 common shares at an issue price of KRW 14,770 each for gross proceeds of KRW 25,933,993,120 on December 5, 2023. The common shares have a face value of KRW 500 per share.

The transaction will include participation from new investor, Google International LLC. The company will issue shares through third party capital increase. The common shares will be locked up for a period of one year.

The payment date for the transaction is January 31, 2024. The transaction has been approved by board of directors of the company.