Zinus, Inc announced a private placement of 1,431,981 common shares at KRW 83,800 per share at a premium of 6.2% for gross proceeds of KRW 4,999,999,365 on March 22, 2022. The shares carry a par value of KRW 500 each. The transaction will include participation from new investor Hyundai Department Store Co.

Ltd. The transaction is by way of third party capital increase. The payment date for the shares is expected on May 31, 2022. The shares are subject to a hold period of one year from the date of issue.

The transaction has been approved by board of directors of the company.