Wemade Innovation Co., Ltd. announced a private placement of 1,600,000 common shares at a price of KRW 50,000 per share for gross proceeds of KRW 80,000,000,000 on January 7, 2022. The transaction will include participation from returning investor Wemade Co.,Ltd. to maintain 100% stake in the company. The shares are issued at premium, as the face value is KRW 500 per share.

The company will issue the securities through share allocation method. The payment date of the transaction is on January 18, 2022. The transaction was approved by the board of directors of the company.

Post the transaction, the registered share will increase from 2,020,000 to 3,620,000 shares.