Magic Flow Inc. announced a placement of 94,400 common shares at an issue price of KRW 25,000 per share for gross proceeds of KRW 2,460,000,000 on September 15, 2023. The transaction included participation from returning investor, Shinsegae Engineering & Construction Inc. for 59,040 shares for post-transaction stake of 60%. The method of capital increase is through shareholder allotment and priority allocation to existing shareholders.

The transaction has been approved by board of directors of the company.