NanoEntek, Inc. has announced a private placement of 5,302,455 common stock at issue price of KRW 3,304 for gross proceeds of KRW 17,519,311,320 through third party allotment on May 13, 2024. The transaction will include participation from returning investor Aplus Asset Advisor Co. Ltd. The transaction has been approved by the board of directors of the company.

The transaction is expected to close on May 21, 2024. All the securities issued under the offering is subject to a hold period of one year.