LG Uplus VoltUp Co., Ltd. announced that it will issue 20,000,000 common shares at a price of KRW 2,500 per share for the gross proceeds of KRW 50,000,000,000 on October 2, 2024. The transaction will include participation from returning investor LG Uplus Corp. for 10,000,000 for the gross proceeds of KRW 25,000,000,000 for 50% stake.
The transaction has been approved by the board of directors of the company. The transaction is expected to close on October 16, 2024. The company will issue common shares through Shareholders' Allotment Increase.