BK TOPS Co., Ltd announced a private placement of 1,547,987 common shares at a price of KRW 7,752 per share for gross proceeds of KRW 11,999,995,224 on July 30, 2021. The transaction will include participation from CEO Jeong, Sang-yong. The transaction will take place through third party allotment method. The shares will be issued at a premium of 9.99% over the par value of KRW 500. The securities are subject to a hold period of 1 year. The transaction was approved by the board of directors of the company. The transaction is expected to close on August 9, 2021.