BK TOPS Co., Ltd. announced a private placement of 988,533 common shares at a price of KRW 5,058 per share for gross proceeds of KRW 4,999,999,914 on January 7, 2022. The transaction will include participation from Jeong Sang yong, Chief Executive Officer of the company. The shares will be issued through third party allotment method.

The shares will be issued at a premium. The payment date is January 18, 2022. The shares have a lock up period of one year.

The transaction has been approved by the board of directors of the company.