EWK Inc. announced that it will issue 2,481,104 shares at a price of KRW 5,880 per share for gross proceeds of KRW 14,588,891,520 on November 25, 2021. The transaction will include participation from Green Tech System Co., Ltd. and TMC Co., Ltd. for 850,340 shares each, Sky Blue Alliance for 510,204 shares, WSA Capital Partners Limited for 202,193 shares and CEO of the company, Michael Kwon for 68,027 shares. The transaction is expected to close on January 10, 2022.

The transaction has been approved by the board of directors of the company. The shares to be issued are subject to a hold period of one year.