IM Tech Inc. (KOSDAQ:A226350) announced a private placement 6,603,773 common shares at a price of KRW 1,060 per share for gross proceeds of KRW 6,999,999,380 with Think Core Holdings Co., Ltd. on December 20, 2018. The security will be issued at premium. The transaction will take place through third party allotment. The securities are subject to a hold period of one year. The transaction was approved by the board of directors of the company. The transaction is expected to close on December 28, 2018.