Ace Technologies Corp. announced a private placement of 23,613,963 common shares at a price of KRW 1,461 per share for gross proceeds of KRW 34,499,999,943 on November 13, 2023. The transaction will include participation from new investor Aurise Investment Pty Limited.

The company will issue shares of par value of KRW 500 per share through third party allocation capital increase method. The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 69,926,073 shares to 93,540,036 shares.

The transaction has been approved by board of directors of the company. The payment date for the transaction is December 19, 2023.