DAVOLINK Inc. announced a private placement to issue 5,461,496 common shares at an issue price of KRW 1,831 for the gross proceeds of KRW 9,999,999,176 on October 19, 2023. The transaction will include participation from new investor H.S International Co., Ltd. for 5,461,496 shares. The transaction has been approved by the shareholders and is expected to close on December 20, 2023. The securities are restricted to a hold period of one year.

On the same date, the company announced the private placement of 623,052 common shares at an issue price of KRW 1,605 for the gross proceeds of KRW 999,998,460. The transaction will include participation from individual investors, Na Taewoong and Seongsuk Jeong for 311,526 shares each. The transaction has been approved by the shareholders of the company and is expected to close on December 20, 2023.