Sangji Caelum, Inc. announced a private placement of 10,000,000 common shares having at an issue price of KRW 500 per share for gross proceeds of KRW 5,000,000,000 on May 23, 2023. The transaction included participation from returning investor JOONGANG DNM Co.,Ltd. and it acquired 13.84% stake after the transaction. The company will issue shares using third party allocation method.