CTL, Inc. (KOSDAQ:A036170) announced a private placement of 5,384,615 common shares at KRW 1,300 per share for gross proceeds of KRW 6,999,999,500 on July 3, 2020. The transaction will include participation from existing investor, Jangsan Co., Ltd.. The company will issue shares at a discount. The company will issue securities through third party allotment method. The company expects to close the transaction on August 17, 2020. The securities issued are subject to hold period of one year from the date of listing. The transaction has been approved by the board of directors of the company.