Magicmicro Co.,Ltd announced a private placement of 1,968,503 preferred shares at a price of KRW 254 per share for gross proceeds of KRW 499,999,762 through third party allocation increase on April 14, 2021. The preferred shares are convertible and redeemable. The shares have a par value of KRW 100 per share. The transaction will include participation from Easy People Co., Ltd. The transaction has been approved by the board of directors of the company. The conversion price is the same as the initial price. The shares are issued at a discount rate of 10%. The transaction is expected to close on April 22, 2021. The shares to be issued in the transaction are subject to restriction period of one year.