ENCHEM Chemical New Materials Co., Ltd announced that it will issue common shares for gross proceeds of $50,000,000 on November 8, 2021. The transaction will include participation from returning investor, Enchem Co., Ltd. to retain 100% stake in the company. The company will receive funding in installments for about five years from the date of the resolution of the board of directors in this matter to June, 2026, and the amount of investment and timing of investment are subject to change depending on progress such as consultation with the company and approval of related organizations.

The transaction has been approved by board of directors of the investor.