Sunny Electronics Corp. announced a private placement to issue 1,857,873 common shares at an issue price of KRW 2,153 per share for the gross proceeds of KRW 4,000,000,569 on November 29, 2023. The transaction will include participation from new individual investor, Cha, Sang Kwon for 5.06% stake in the company.

The transaction is expected to close on December 7, 2023. The transaction has been approved by the board of directors of the company. The shares are issued at a par value of KRW 500 per share.

The shares issued are subjected to one year holding period. The shares are issued through third party capital increase method.