Magicmicro Co.,Ltd (KOSDAQ:A127160) announced a private placement of 28,503,562 common shares at a price of KRW 421 per share for gross proceeds of KRW 11,999,999,602 on October 5, 2020. The shares have a par value of KRW 100 per share. The transaction included participation from Apex Equity Partners. The transaction has been approved by the board of directors of the company. The shares issued are subject to restriction period of one year. The transaction is expected to close on November 20, 2020. The company will receive funding through third party allotment of capital.