Metalabs Co., Ltd. announced a private placement of 22,970,904 common shares at the price of KRW 653 per share for gross proceeds of KRW 15,000,000,312 on June 27, 2022. The transaction will include participation from WBM No.1 Association. The company will issue shares of par value of KRW 500 per share through third party allocation method.

The shares will be locked up for a period of 15 days. Post closing, the total number of shares issued will increase from 74,523,448 shares to 97,494,352 shares. The transaction has been approved by board of directors of the company.

The payment date for the transaction is October 31, 2022.