Neo Cremar Co., Ltd. announced a private placement of 653,595 shares at a par value of KRW 500 at a price of KRW 15,300 per share for gross proceeds of KRW 10,000,003,500 on November 29, 2021. The company is raising funding through third party capital increase. The transaction will include participation from Daeho Al Co.,Ltd. The transaction is expected to close on January 21, 2022.

The transaction has been approved by the board of directors of the company. The securities to be issued are restricted for a period of one year, post the closing.