Jooyon Tech Co., Ltd. (KOSE:A044380) announced a private placement of 7,978,722 shares at a price of KRW 376 per share for the gross proceeds of KRW 2,999,999,472 on March 21, 2019. The transaction included participation from individual investor Jeongjun Lee for 797,872 shares, returning investor Hwapyong Holdings Co.,Ltd, for 4,521,276 shares and new investors YJM Games Co., Ltd. (KOSDAQ:A193250) for 1,329,787 shares, and Tway Holdings Incorporation (KOSE:A004870) for 1,329,787 shares. The company will issue common shares through third party allotment method.

The scheduled delivery date of new shares certificates and scheduled listing date of new shares are May 9, 2019 and May 10, 2019 respectively. The transaction has a lock-up period of one year. The transaction has been approved by the board of directors.

The payment date for the transaction is April 22, 2019.