The StoryWorks Co., Ltd. announced a private placement of 12,500,000 shares at a price of KRW 1,600 per share for gross proceeds of KRW 20,000,000,000 from existing investor Seoul Broadcasting System (KOSE:A034120) on March 27, 2020. Investor will continue to own 100% stake in the company. The transaction has been approved by the board of directors of the company. The common shares issued in the transaction has a face value of KRW 500 per share. The transaction is expected to close on April 1, 2020. The common shares are issued at a premium of KRW 220.