Iron Gray Co., Ltd. announced a private placement of 400,000 common shares at a price of KRW 500,000 per share for gross proceeds of KRW 200,000,000,000 on February 8, 2022. The transaction will include participation from returning investor SeAH Holdings Corporation. The Investment method is shareholder allocation.

Post the closing of the transaction, the investor will continue to hold 100% stake in the company. The transaction was approved by the board of directors of the company.