ED Co., Ltd. (KOSDAQ:A033110) announced a private placement of 2,012,072 common shares at an issue price of KRW 994 per share for gross proceeds of KRW 1,999,999,568 on March 20, 2018. The transaction will involve participation from returning investor Paradisepoint Inc. The shares will be issued at a premium and will be allotted through third party allotment method. Post the closing of the transaction, the shares issued by the company will increase from 54,241,337 to 56,253,409. The transaction is expected to close on March 21, 2018. The shares issued in the transaction are subject to a lock up period of one year. The transaction was approved by the board of directors the company.