SEONGAN CO., Ltd. announced a private placement of 7,299,270 common shares at the price of KRW 959 per share for gross proceeds of KRW 7,000,000,000 on August 1, 2022. The transaction will include participation from HNC Innovation. The company will issue shares of par value of KRW 500 per share through third party allocation method.

The shares will be locked up for a period of one year. The transaction has been approved by board of directors of the company. The payment date for the transaction is May 09, 2023.