Osung Advanced Materials Co., Ltd. announced a private placement of 3,503,852 common shares having a par value of KRW 500 at a price of KRW 1,427 per share for gross proceeds of KRW 4,999,996,804 on April 5, 2023. The transaction will include participation from existing investors, East burgundy Co., Ltd., Polar Vertex Co., Ltd. and The E&M Co., Ltd. through third-party allocation. The transaction has been approved by the board of directors of the company.

The shares to be issued are subject to a hold period of one year. The payment date is on May 10, 2023.