THE MIDONG Co,. Ltd. announced a private placement to issue 3,748,828 shares at an issue price of KRW 1,067 for the gross proceeds of KRW 3,999,999,476 on August 24, 2023. The transaction will include participation from new investor GENTLE MASTER LIMITED for 3,748,828 shares.

The transaction has been approved by the shareholders of the company and is expected to close on November 24, 2023. The share are restricted to a hold period of 1 year.