Magic Flow Inc. announced that it will issue 202,000 common shares at an issue price of KRW 25,000 per share for gross proceeds of KRW 5,050,000,000 on October 16, 2023. The transaction will include participation from returning investor, Shinsegae Engineering & Construction Inc. for 3,030 shares for 60% stake. The method of capital increase is through priority allocation to existing shareholders.

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