Sewon Co.,Ltd announced a private placement of 4,520,038 shares at a price of KRW 2,146 per share for proceeds of KRW 9,700,001,548 on August 16, 2022. The shares will be issued pursuant to shareholder allocation method. The transaction will include participation from returning investor Polaris Office Corp.

The transaction has been approved by the board of directors. Post-closing the transaction, the investor will hold 7,975,976 shares for 16.62% stake in the company. The transaction is expected to close on August 24, 2022.