EOFLOW Co.,Ltd. announced a private placement of 12,927,615 common shares at an issue price of KRW 24,359 per share for the gross proceeds of KRW 314,903,773,785 on May 25, 2023. The shares are restricted to a hold period of 1 year. The transaction will include participation from new investor Medtronic Korea Holdings Co., Ltd. The transaction has been approved by the shareholders of the company.

The transaction is expected to close on October 25, 2023.