Organic Tea Cosmetics Holdings Company Limited announced a private placement of 60,000,000 shares at an issue price of KRW 200 per share for gross proceeds of KRW 12,000,000,000 on May 11, 2023. The company is raising funding through third party allotment method. The transaction will include participation from returning investors Jinzheng Investment Co PTE.

LTD. for 40,000,000 shares and Zhuohua Investment Holdings PTE. LTD for 20,000,000 shares. The transaction is expected to close on May 19, 2023.

The transaction has been approved by the board of directors of the company. All securities issued in the transaction have a hold period of one year.