AIBIT Co., Ltd. (KOSDAQ:A039230) announced a private placement of 2,000,000 common shares issued at a price of KRW 500 per share for proceeds of KRW 1,000,000,000 on October 26, 2020. The transaction will include participation from Joonil Park, Chief Executive Officer. The shares will be issued through a third party allotment method and will have a lock up period of 12 months. The transaction has been approved by the board of directors of the company and is expected to close on November 02, 2020.