Edison Motors Co., Ltd. announced a private placement of 333,333 shares at an issue price of KRW 60,000 per share for gross proceeds of KRW 19,999,980,000 on November 2, 2021. The company adopted third-party allocated capital increase method. The transaction will include participation from returning investor, Edison EV Co., Ltd. Post completion of the transaction, investor will hold 11.21% stake in the company. The transaction is expected to close on November 5, 2021. The transaction has been approved by the board of directors.