Contents Wave announced that it has received KRW 90.132627032 billion in funding from Munhwa Broadcasting Corporation, Korean Broadcasting System, SBS Contents Hub Co., Ltd., SK Square Americas

Contents Wave announced a private placement of 419,909 common shares at a price of KRW 214,648 for proceeds of KRW 90,132,627,032 on December 22, 2022. The transaction included participation from Korean Broadcasting System for 106,377 shares, Munhwa Broadcasting Corporation for 106,377 shares, SBS Contents Hub Co., Ltd. for 106,377 shares, and SK Square Americas for 100,778 shares. The transaction has been approved by the board of directors.

The shares will be issued pursuant to third party allotment method.