Action Square CO., LTD. (KOSDAQ:A205500) announced a private placement of 14,847,164 common shares issued at KRW 1,145 per share for gross proceeds of KRW 17,000,002,780 on September 17, 2019. The transaction will include participation from Lin Cornstone Co., Ltd, YJM Entertainment Co., Ltd., Jooyon Tech Co., Ltd. (KOSE:A044380), and YJM Games Co., Ltd. (KOSDAQ:A193250). The shares will be issue on the basis of third party allotment.

The securities issued in the transaction are subject to a hold period of one year. The company expects to close the transaction on November 25, 2019. The transaction was approved by the board of directors of the company.