Signet Ev Inc. announced a private placement of 5,920,000 registered convertible preferred shares at a price of KRW 35,850 per share for gross proceeds KRW 212,232,000,000 on April 15, 2021. The transaction will involve participation from SK Inc. The preferred shares will be issued at par. The preferred shares are convertible into 5,920,000 common shares of the company from August 16, 2021 to July 14, 2030.

The transaction was approved by the board of directors of the company. The securities are subject to a hold period of one year. The transaction will take place through third party allocation method.

The payment date for the transaction is July 15, 2021.