Pacific Tech Co., Ltd announced a private placement and it will issue 400,000 common shares at an issue price of KRW 5,000 each for gross proceeds of KRW 2,000,000,000 on January 29, 2024. The common shares have a face value of KRW 5,000 per share. The transaction will include participation from new investor, AMOREPACIFIC Group.

The company will allot 4 new shares for each existing share. The company will raise funding through capital increase by shareholder allocation increase. The transaction has been approved by the board of directors of the company.

The transaction subscription date and the payment date is February 19, 2024.