Orient Electronics Co.,Ltd. announced a private placement of 2,202,165 common shares at an issue price of KRW 1,385 per share for gross proceeds of KRW 3,049,998,525 on July 20, 2022. The transaction will involve participation from existing investor, Orient Precision Industries Inc. for 1,263,537 shares and ORIENT BIO Inc. for 938,628 shares. The shares have face value of KRW 500.

The shares issued in the transaction will have a lock period of 12 months from the date of issuance. The company will issue shares through third-party allotment method. Post the closing, the total number of shares issued by the company will increase from12,690,373 shares to 14,892,538 shares.

The payment date is August 10, 2022. The transaction has been approved by the board of directors of the company.