The HQ Co.,Ltd. announced a private placement of 5,921,831 common shares at a price of KRW 2,533 per share for gross proceeds of KRW 14,999,997,923 on May 6, 2022. The company will receive funding through third party allotment of capital. The transaction will include participation from JTJ Partners Co., Ltd. The transaction has been approved by board of directors of the company and is expected to close on June 29, 2022.

The securities issued will be subject to restriction period of 1 year from issuance.