Edison Motors Co., Ltd. announced a private placement of 500,000 shares at an issue price of KRW 60,000 per share for gross proceeds of KRW 30,000,000,000 on August 27, 2021. The transaction will include participation from returning investor Edison EV Co., Ltd. Post completion, it will own 7.04% stake in the company. The transaction is expected to close on September 14, 2021. The transaction has been approved by the board of directors.