SMN Corporation announced that it will issue 725,000 common shares at issue price of Ñ569 per share for aggregate gross proceeds of Ñ412,525,000 on August 10, 2022. The transaction will include participation from returning investor, The Yomiuri Shimbun Group Inc. After deducting the expenses related to the issuance costs of Ñ15,000,000, the net proceeds raised by company was Ñ397,525,000. The transaction is expected to close on August 26, 2022.

The company issues shares through third-party allotment. The transaction has been approved by the board of directors of the company.