GW Vitek CO.,LTD. announced a private placement of 4,957,265 common shares at a price of KRW 585 per share for the gross proceeds of KRW 2,900,000,025 on February 24, 2023. The transaction will include participation from individual investor Yoonjae Lee. The share are allotted through third party allocation increase method and have a holding period of 1 year.

The transaction has been approved by shareholders of the company. The transaction is expected to close on March 6, 2023.