Tiernes Co., Ltd. announced a placement of 434,782 common shares at an issue price of KRW 11,500 for gross proceeds of KRW 4,999,993,000 on November 22, 2023. The transaction include participation from new investors, LB Next Unicorn Fund, a fund managed by LB Investment Inc. for 434,782 shares. The method of capital increase is through third-party allocation.

The transaction has been approved by board of directors of the company. The expected date of payment is November 24, 2023.