INFOMARK Co., Ltd announced a private placement of 5,151,184 common shares at an issue price of KRW 4,465 per share for proceeds of KRW 23,000,036,560 on December 21, 2022. The shares will be issued pursuant to third party allotment method. The transaction will include participation from returning investor Wooridul Huebrain Limited for 3,135,500 shares and L Fin Company Co., Ltd. for 447,930 shares, ITEX, Inc. for 447,930 shares, Kukdong Corporation for 223,966 shares and Teladin Co., Ltd. for 895,858 shares.

The transaction is expected to close on December 29, 2022. The transaction has been approved by the board of directors. The securities will be subject to a hold period of one year.