Ultimus Co., Ltd announced that it will issue 8,925 common shares at a price of KRW 231,800 for gross proceeds of KRW 2,068,815,000, and 5,575 preferred shares at a price of KRW 231,800 for gross proceeds of KRW 1,987,685,000 for aggregate gross proceeds of KRW 4,056,500,000 on February 6, 2024. The transaction will include participation from new investor SK Inc. The transaction has been approved by board of directors of the company. The method of capital increase is through shareholder allocation.

The transaction is expected to close on February 29, 2024.