WIZIT Co., Ltd. announced a private placement of 4,629,629 common shares of par value KRW 500 per share, at an issue price of KRW 1,512 per share for gross proceeds of KRW 6,999,999,048 on December 15, 2021. The transaction will include participation from returning investors Eyesvision Corp. for 1,322,751 shares and Mercury Corporation for 3,306,878 shares.

The company will raise the funding through third-party allotment. All securities to be issued will be subject to a hold period of one year from issuance. The transaction has been approved by the board of directors of the company, and is expected to close on December 23, 2021.