PATI Games Corporation (KOSDAQ:A194510) announced a private placement of 9,714,224 common shares at an issue price of KRW 7,590 per share for gross proceeds of KRW 73,730,960,160 on December 15, 2016. The transaction will involve participation from new investor Modacom Co., Ltd. The shares will be issued through third party allotment, will carry a face value of KRW 500, and will be issued at a premium. The shares have a hold period of one year.

Post the closing of the transaction, the shares of the company will increase from 9,714,224 shares to 21,856,212 shares. The transaction is expected to close on January 18, 2017. The transaction was approved by the board of directors of the company.