N Citron, Inc. announced a private placement of 3,333,330 common shares at an issue price of KRW 600 per share for the gross proceeds of KRW 1,999,998,000 on May 30, 2023. The transaction will include participation from new individual investors In-gyeon Jeong for 1,666,666 shares, Dongha Lee for 416,666 shares, Jeong-joo Kim for 416,666 shares, Jungwoo Song for 333,333 shares, Seongwoo Kim for 333,333 shares and Bonghun Shin for 166,666 shares. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on June 19, 2023. The shares are restricted to a hold period of one year.