Studio Dragon Corporation (KOSDAQ:A253450) announced a private placement of 1,877,345 common shares at a price of KRW 79,900 per shares for gross proceeds of KRW 149,999,865,500 on October 26, 2020. The transaction will include participation from NAVER Corporation (KOSE:A035420). The transaction is expected to close on November 10, 2020.

The transaction was approved by the board of directors of the company. The securities to be issued have a hold period of one year. The company will issue securities through third party allocation increase.