IHQ Inc. announced a private placement of 3,452,244 common shares at the price of KRW 869 per share for gross proceeds of KRW 3,000,000,036 on May 31, 2022. The transaction will include participation from KH Feelux Co., Ltd. The company will issue shares of par value of KRW 500 per share through third party allocation increase method. The shares will be locked up for a period of one year.

Post closing, the total number of shares issued will increase from 151,378,606 shares to 154,830,850 shares. The transaction has been approved by board of directors of the company. The payment date for the transaction is June 08, 2022.