RaemongRaein Co., Ltd. announced a private placement to issue 2,920,440 common shares at an issue price of KRW 9,930 for the gross proceeds of KRW 28,999,969,200 on March 12, 2024. The transaction will include participation from new investors WIDER PLANET Inc. 1,812,688 shares, Jeongjae Lee 503,524 shares, In-gyu Park 503,524 shares, K Culture No. 1 Association 100,704 shares.

The transaction has been approved by the shareholders of company and is expected to close on March 20, 2024. The shares are restricted to a hold period of 1 year.