Thumbage Co., Ltd. announced a private placement of 2,544,530 common shares at a price of KRW 1,965 per share for gross proceeds of KRW 5,000,001,450 on March 8, 2022. The transaction will include participation from Wemade Innovation Co., Ltd. The company will receive funding through third party allocation increase. The transaction has been approved by board of directors of the company and is expected to close on March 17, 2022.

The securities issued are subject to restriction period of one year from issuance.