Studio Santa Claus Entertainment Co., Ltd. announced a private placement of 11,200,000 common shares at a price of KRW 500 for the gross proceeds of KRW 5,600,000,000 on August 9, 2023. The transaction has been approved by the shareholders of the company and is expected to close on October 31, 2023. The transaction will include participation from new investor, Richmond Holdings Co., Ltd. The shares will be allotted through third party method of allotment.