Hyundai Mseat Co., Ltd. announced a private placement of 183,007 common shares at the price of KRW 76,500 per share for gross proceeds of KRW 14,000,035,500 on July 26, 2022. The transaction will include participation from returning investors Hyundai Transys Co., Ltd. for KRW 13,978,921,500 and Lear Corporation for KRW 21,114,000. The transaction has been approved by board of directors of the company.

The transaction is expected to close on September 1, 2022.