GOODPEOPLE Co., Ltd. announced a private placement of 7,451,564 common shares of par value KRW 500 per share at an issue price of KRW 671 per share for gross proceeds of KRW 4,999,999,444 on December 29, 2021. The transaction will include participation from Blue Bean Company. The transaction has been approved by the board of directors of the company.

The company will issue shares using third party allotment method. The shares to be issued pursuant to the transaction are subject to a hold period of 1 year. The transaction is expected to closed on January 6, 2022.