MotorK plc announced a private placement of 4,092,592 new ordinary shares at a price of ?3 per share for the gross proceeds of ?12,277,776 on February 2, 2024. The transaction will include participation from returning investors 83North Limited, Lucerne Capital Management, LP and new investors Procar Automobile Gmbh and Anfield Ltd. In addition, these newly-issued shares will be subject to a 6-month lock-up period, underlining the investors' long-term vision and dedication to the Group's success.