PAXNet, Inc. (KOSDAQ:A038160) announced a private placement of 2,781,642 common shares of par value KRW 500 at a price of KRW 3,595 for gross proceeds of KRW 10,000,002,990 on January 17, 2020. The transaction will involve participation from Tiger Value Combination, through third party allotment. The expected closing date of the transaction is January 29, 2020. The dividend date of shares is January 1, 2020. The shares are issued at premium. The transaction has been approved by the board of the directors of the company. The securities issued are subject to a hold period of one year.