TOBESOFT Co., Ltd. announced a private placement of 10,940,919 common shares at an issue price of KRW 914 per share for the gross proceeds of KRW 9,999,999,966 on August 28, 2023. The transaction will include participation from new investor Moda Asset Managment Co., Ltd. for 10,940,919 shares. The transaction has been approved by the shareholders of the company.

The shares are restricted to the hold period of 1 year from date of issue. The transaction is expected to close on October 6, 2023.