AeroSpace Technology of Korea Inc. announced a private placement to issue 145,650,000 shares at an issue price of KRW 500 per share for the gross proceeds of KRW 72,825,000,000 on March 5, 2024. The transaction will include participation from new and returning investors The Korea Development Bank for 25,380,000 shares, Kodit 2021 The 5th Securitization Specialty Co. Ltd for 11,006,000 shares, KB Kookmin Bank for 8,010,000 shares, Korea Credit Guarantee Fund for 3,668,000 shares, Shinbo 2022 5th Securitization Specialty Co., Ltd. for 3,668,000 shares, Woori Bank for 918,000 shares and Alpha Aero LLC for 93,000,000 shares.

The transaction has been approved by the shareholders of the company and is expected to close on March 12, 2024. The securities are restricted to a hold period of 1 year.