Carrot Co., Ltd announced a private placement of 7,542,427 common shares at a price of KRW 15,910 per share for gross proceeds of KRW 120,000,013,570 on December 22, 2023. The transaction will include participation from returning investor Hanwha General Insurance Co., Ltd. to retain stake in the company. The transaction has been approved by the board of directors of the company. The method of capital increase is through allocation to third parties.

On Same date, the company amended the terms of the transaction. The company announced that it will issue 8,202,389 common shares at a price of KRW 15,910 per share for gross proceeds of KRW 130,500,008,990. The method of capital increase is through allocation to third parties. the transaction include the participation from returning investors Hanwha General Insurance Co., Ltd. issue 7,542,427 shares and Altos Korea Opportunity Fund 5, L.P. will issue 659,962 shares.