Cube Entertainment Inc. (KOSDAQ:A182360) announced a private placement of 797,337 common shares at an issue price of KRW 3,750 per share for gross proceeds of KRW 2,990,013,750 on October 8, 2020. The transaction will involve participation from Employee Stock Ownership Association. The shares have face value of KRW 100. The shares are issued at a discount of -9.83%. 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 33,721,501 shares to 34,518,838 shares. The payment date is October 20, 2020. The transaction has been approved by the board of directors of the company.