Showbox Corp. announced that it will issue 24,952,447 common shares at a price of KRW 5,277 for gross proceeds of KRW 131,674,062,819 on April 15, 2022. The transaction will include participation from MAUM HOLDINGS, INC. The shares have a par value of KRW 500.

The company followed third party allocation method. The transaction has been approved by the board of directors. The transaction is expected to close on June 30, 2022.

The shares to be issued shall have a lock up of one year from closing of the transaction.