CIAAT Co., Ltd. announced a private placement and it will issue 1,000,000 redeemable convertible preferred shares of par value KRW 500 per share at an issue price of KRW 2,000 per share for gross proceeds of KRW 2,000,000,000 on December 13, 2023. The transaction will include participation from new investors Ilshin New Adventure Investment Fund managed by Ilshin Investment Co., Ltd. and Winvest No.23 Investment Fund for 500,000 shares each. The preferred shares will be issued through third party allocation capital increase.

The preferred shares can be converted into 1,000,000 common shares at a fixed conversion price of KRW 2,000 from December 23, 2024 to December 21, 2033, and are redeemable from December 23, 2026 to December 22, 2033. The transaction has been approved by the board of directors of the company. The payment date of transaction is December 22, 2023.