Lucky-Dragon International Travel Limited announced a private placement of 18,125 shares at a price of KRW 173,406.8 per share for gross proceeds of KRW 3,142,998,250 on August 22, 2017. The transaction will include participation from new investor, Gamma Nu Inc. (KOSDAQ:A192410) for 34.2% stake in the company. The amount raised includes cash acquisition and partial loans receivable offset payment. Post the closing of the transaction, the number of shares will increase from 35,000 to 53,125. The transaction was approved by the board of directors of the company. The company reported total assets of KRW 451,000,000, total liabilities of KRW 350,000,000, shareholders equity of KRW 101,000,000, revenue of KRW 4,552,000,000, and net loss of KRW 382,000,000 for the year ended December 31, 2016.