Hyulim Networks Co., Ltd. announced a private placement of 16,042,780 common shares at the price of KRW 374 per share for gross proceeds of KRW 5,999,999,720 on October 4, 2023. The transaction will include participation from new investor Hyulim Holdings Co., Ltd. The company will issue shares of par value of KRW 200 per share through third party allocation capital increase method. The shares will be locked up for a period of one year.

Post closing, the total number of shares issued will increase from 108,796,360 shares to 124,839,140 shares. The transaction has been approved by board of directors of the company. The payment date for the transaction is December 22, 2023.