HFR, Inc. announced that it will issue 607,006 common shares at a price of KRW 27,600 per share for a gross proceeds of KRW 16,753,365,600 on February 28, 2022. The company will issue the shares through third party capital allotment. The transaction will include participation from new investor NEC Networks & System Integration Corporation.

The transaction is expected to close on March 31, 2022. The transaction has been approved by the board of directors of the company. The securities will subject to a hold period of one year from the date of issuance.