GW Vitek CO.,LTD. announced a private placement of 7,500,000 common shares having face value of KRW 500 per share at an issue price of KRW 2,000 per share for gross proceeds of KRW 15,000,000,000 on January 24, 2022. The transaction will include participation from The Road 1 Fund. The company will raise funding through third party allocation.

The shares issued in the transaction will have a lock in period of one year. The transaction is expected to close on February 23, 2022. The transaction has been approved by the board of the directors of the company.