FNC ADD CULTURE. Co., Ltd. (KOSDAQ:A063440) announced a private placement of 5,882,353 common shares at an issue price of KRW 1,700 per share for gross proceeds of KRW 10,000,000,100 on March 14, 2018. The transaction will involve participation from new investor S.M. Entertainment Co., Ltd. (KOSDAQ:A041510).

The shares will be issued at a premium and through third party allotment method. Post the closing of the transaction, the shares issued by the company will increase from 38,307,875 to 44,190,228. The shares issued in the transaction are subject to a hold period of one year.

The expected payment and subscription date of the transaction is May 18, 2018. The transaction was approved by the board of directors of the company.