KOSSEN Co., Ltd. announced a private placement of 4,728,671 common shares at an issue price of KRW 1,280 for aggregate gross proceeds of KRW 6,052,698,880 on October 11, 2022. The transaction will include participation from Seahea Industrial Co., Ltd. for 781,250 shares, individual investor Woo Jin Kim for 781,250 shares, and returning individual investors, Jae Cheon Park for 1,015,625 shares, Jung Yeol Oh for 1,196,015 shares and Jang Hee Cho for 954,531 shares. The method of capital increase will be through third party allotment.

The common shares will have a lock-up period of one year. The transaction has been approved by board of directors of the company. The expected date of payment is October 26, 2022.