Vivozon, Inc. announced a private placement of 12,500,000 common shares at an issue price of KRW 8,000 per share for gross proceeds of KRW 100,000,000,000 on March 19, 2018. The shares have a par value of KRW 500 and will be issued at a premium. The transaction will include participation from Lee, Doohyun, Chief Excutive officer for 3,106,000 shares and Lee, Changhyun vise-president for 343,094 shares.

The company currently has 13,859,464 shares outstanding. The subscription period will start and end on May 2, 2018. The transaction is expected to close on May 9, 2018.

The company will issue 0.9510218 new shares per 1 existing share in the transaction. The transaction was approved by the board of directors of the company.