Magicmicro Co.,Ltd (KOSDAQ:A127160) announced a private placement of 2,456,499 common shares at KRW 977 per share for gross proceeds of KRW 2,399,999,523 on November 14, 2019. The transaction will include participation from new investor Samsung Internet Phone Co., Ltd. The common shares will have a lock-up period of one year. Post the transaction, the number of issued common shares will increase from 61,490,323 shares to 63,946,822 shares. The payment date for shares is December 11, 2019. The par value of each share is KRW 100 and are being issued at premium. The transaction has been approved by the board of directors of the company.