Howling Soft Co., Ltd. announced a private placement of 754,100 shares at a price of KRW 1,485 per share for gross proceeds of KRW 1,119,838,500 on May 18, 2016. The transaction will include participation from new investor, Thumbage Co., Ltd. (KOSDAQ:A208640). The investor will acquire 56% stake in the company through this transaction. The transaction is expected to complete on May 20, 2016. The transaction has been approved by the board of directors of the investor. The company reported total assets of KRW 147,000,000, total liabilities of KRW 142,000,000, total capital of KRW 5,000,000, capital of KRW 296,000,000, sales of KRW 3,000,000, and net loss of KRW 152,000,000 for the year ended December 31, 2015.