Melfas Inc. announced a private placement of 8,571,428 common shares of par value, KRW 500 at the price of KRW 700 per common share for gross proceeds of KRW 5,999,999,600 on December 9, 2022. The transaction will include participation from ENSCompany Ltd for 8,571,428 shares for 1 year hold period. The shares will be locked up for a period till January 4, 2023.

The payment date for the transaction is December 19, 2022. The company issued shares through third party allocation method. The transaction has been approved by the board of directors of the company.