ITEK, Inc. announced a private placement to issue 610,223 common shares at an issue price of KRW 6,260 for an aggregate gross proceeds of KRW 3,819,995,980 on November 30, 2022. The transaction will include participation from individual investor, Hyunsik Choi. The company is expected to close the transaction on December 8, 2022.

The transaction has been approved by the board of directors of the company.