ABOV Semiconductor Co., Ltd. announced a private placement of 321,100 common shares at a price of KRW 10,900 per share for gross proceeds of KRW 3,499,990,000 on August 17, 2022. The transaction will include participation from new investor SVIC No.56 New Technology Business Investment Fund, a fund managed by Samsung Venture Investment Corporation. The company will issue the securities through third party allotment.

The transaction is expected to close on August 25, 2022. The transaction has been approved by the board of directors of the company. All the securities issued in the transaction will subject to hold period of one year.