Fortis, Inc. announced a private placement of 2,800,000 shares at an issue price of KRW 500 per share for gross proceeds of KRW 1,400,000,000 on December 17, 2021. The transaction will include participation from Invalley Co., Ltd. The company is raising funding through 3rd party allocation increase method. The transaction is expected to close on December 20, 2021. The transaction has been approved by the board of directors.