SMAC Co.,Ltd. (KOSDAQ:A097780 ) announced a private placement of 1,526,718 common shares with new investor Elk Corporation at KRW 4,585 per share for gross proceeds of KRW 7,000,002,030 on August 13, 2015. Post-acquisition of 1,820,000 shares and subscription of 1,526,718 common shares the investor will hold 17.04% stake in the company. The company will receive funding through third party allocation.

The board of directors of the company approved the transaction. The transaction is expected to close on October 21, 2015. The company reported total assets of KRW 178,607,000,000, total liabilities of KRW 59,372,000,000, total capital of KRW 119,235,000,000, capital of KRW 9,059,000,000, sales of KRW 234,948,000,000, and net loss of KRW 13,903,000,000 for the year ended December 31, 2014.