TILON Co.,Ltd. announced a private placement of 280,000 shares at an issue price of KRW 12,500 per share for gross proceeds of KRW 3,500,000,000 on February 25, 2022. The transaction will include participation from Solon New Technology fund 10 and Go Chang-Woo for 80,000 shares each, Lee Joo-hee for 24,000 shares, Kim Hyun-ah for 16,000 shares, Seunghee Kim and Oh Jin-won for 40,000 shares each. The transaction is expected to close on March 8, 2022.

The transaction was approved by the board of directors of the company. The company will receive funding through 3rd party allocation. The securities to be issued will have a hold period of one year.