isMedia Co., Ltd. announced a private placement of 53,212 common shares at a price of KRW 22,149 per share for gross proceeds of KRW 1,178,592,588 on December 6, 2021. The transaction will include participation from GreenBox POS. The company will receive funding through third party allotment of capital.

The transaction was approved by board of directors of the company. The transaction is expected to close on March 6, 2022. The securities issued are subject to hold period of one year from issuance.