Esmo Corporation (KOSDAQ:A073070) announced a private placement to issue 6,970,684 shares at issue price of KRW 1,535 per share for gross proceeds of KRW 10,699,999,940 on December 19, 2019. The transaction will include participation from Fortkorea Asset Management Inc. The transaction is through third party allotment. The transaction has been approved by the board of directors of the company. The shares issued in the transaction is subject to a hold period of one year. The transaction is expected to close on December 27, 2019.