Redrover Co.,Ltd. (KOSDAQ:A060300) announced a private placement of 10,000,000 common shares of par value of KRW 500 each at a price of KRW 700 per share for gross proceeds of KRW 7,000,000,000 on March 17, 2020. The company is raising funding through third party allocation. The transaction will include participation from returning investor Win Asia Partners Co., Ltd.. The transaction has been approved by the board of directors of the company. The transaction is expected to close on May 18, 2020. Post closing of the transaction, the capital of the company will increase from 57,637,698 shares to 67,637,698 shares. All securities issued will be subject to a hold period of one year.