Virtualtek Corp (KOSDAQ:A036620) announced a private placement of 3,738,315 common shares at a price of KRW 535 per share for gross proceeds of KRW 1,999,998,525 on April 1, 2020. The transaction will include participation from existing investors Hosun Kim for 1,869,158 shares and Widwin Holdings Co., Ltd. for 1,869,157 shares. The shares have a face value of KRW 500 per share. The shares issued are subject to restriction period of one year. The transaction has been approved by board of directors of the company. The transaction is expected to close on May 15, 2020.