Every On TV Co., Ltd. announced a private placement of 400,000 shares at KRW 5,000 per share for gross proceeds of KRW 2,000,000,000 on November 25, 2014. The company will issue the shares to its existing investors. The transaction will include participation from existing investor, Hyundai HCN Co., Ltd. for 204,000 shares.

On closing, the investor will hold 51% stake in the company. The company will issue 0.6666667 new shares for every existing share in the company. The subscription period for the shares will commence and end on December 23, 2014.

The payment date for the shares is expected on December 24, 2014. The scheduled delivery date for the delivery of the new share certificates is expected on January 2, 2015. The transaction was approved by the board of directors on the same date.