Me2on Co., Ltd. (KOSDAQ:A201490) announced a private placement of 166,648 common shares at a price of KRW 9,001 per share for gross proceeds of KRW 1,499,998,648 on May 15, 2017. The transaction will involve participation from new investor Youngtae,No. The equity shares will be issued at a premium. The common shares will be subject to a lock up period of one year. The transaction is expected to close on May 19, 2017. The shares will be issued through a third party allotment. The transaction has been approved by the board of directors of the company.