isMedia Co., Ltd. announced a private placement of 2,708,333 common shares at a price of KRW 2,400 per share at a premium of 11.94% for gross proceeds of KRW 6,499,999,200 on May 23, 2022. The transaction will include participation from new investor Is Networks Co., Ltd. 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 May 31, 2022. The securities issued are subject to hold period of one year from issuance.