Codenature Inc. announced a private placement to issue 5,197,505 common shares at a price of KRW 962 per share for gross proceeds of KRW 4,999,999,810 on December 21, 2022. The transaction will include participation from One Partners No. 1 Cooperative for 3,118,503 shares, and Marine Best Korea Co., Ltd. for 2,079,002 shares.

The par value of each share is KRW 500 per share. The capital will be raised through third party allocation method. The transaction is subject to lock-up period of 1 year.

The transaction is expected to close on December 29, 2022. The transaction has been approved by board of directors of the company.