EOFLOW Co.,Ltd. announced a private placement of 175,312 common shares at an issue price of KRW 52,575 per share for gross proceeds of KRW 9,217,028,400 on October 26, 2021. The transaction will include participation from Sinocare Inc. The company will issue shares using third party allocation method. The transaction has been approved by the board of directors of the company.

The shares have a face value of KRW 100 per share. The securities to be issued pursuant to the transaction are subject to a hold period of one year. The transaction is expected to close on December 27, 2021.