Huvexel Co.,Ltd. announced a private placement to issue 293,333 common shares at an ussye price of KRW 3,750 for the gross proceeds of KRW 1,099,998,750 on October 12, 2023. The transaction will include participation from new investor Donghae Stf Corporation for 293,333 shares. The transaction has been approved by the shareholders of the company and is expected to close on October 25, 2023.

The securities are restricted to a hold period of one year.