Kumho Electric, Inc. announced a private placement of 5,268,703 common shares at a price of KRW 949 for the gross proceeds of KRW 4,999.999147 million on June 30, 2023. The transaction will include participation from White Whale Fund 1 for 5,268,703 common shares. The shares will be allotted through third party allocation method.

The transaction has been approved by the shareholder's of the company and is expected to close on October 31, 2023.