Nuvotec Co. Ltd. announced a private placement of 2,148,997 common shares at a price of KRW 698 per share for the gross proceeds of KRW 1,499,999,906 on March 9, 2023. The shares are allotted through 3rd party allocation paid-in capital increase method.

The transaction has been approved by the shareholders of the company. The transaction is expected to close on March 17, 2023.