SONOKONG Co., Ltd. announced a private placement to issue 5,537,097 common shares at an issue price of KRW 1,806 for the gross proceeds of KRW 9,999,997,182 on August 4, 2023. The transaction will include participation from returning investor H2 Partners Co., Ltd. for 1,661,129 shares and Orion ENC Fund for 3,875,968 shares. The transaction has been approved by the shareholders of the company and is expected to close on September 1, 2023.

The securities are restricted to a hold period of one year.