Esmo Corporation (KOSDAQ:A073070) announced a private placement of 20,703,933 shares at a price of KRW 483 per share for the gross proceeds of KRW 9,999,999,639 on June 1, 2020. The transaction will include participation from returning investor Jung Hoon Kim, CEO of the company. The company will raise funding through third party allotment. The shares issued in the transaction have a lock up period of one year. The transaction has been approved by board of directors of the company. The transaction is expected to close on June 24, 2020.