IM Co.,Ltd (KOSDAQ:A101390) announced a private placement of 4,651,162 common shares at a price of KRW 1,075 for gross proceeds of 4,999,999,150 on March 14, 2019. The transaction will include participation from individual investors Kim Jeong-kwon and Kim Kyung-ja for 2,325,581 shares each. The transaction is expected to close on May 21, 2019.

The securities will issue through a third-party allotment. The transaction was approved by board of directors.