B2En Co., Ltd. announced a private placement of 446,122 common shares at the price of KRW 1,457 per share for gross proceeds of KRW 649,999,754 on May 28, 2024. The transaction will include participation from new investor Kim Bau. The company will issue shares of par value of KRW 100 per share through third party allocation method.

The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 33,998,194 shares to 34,444,316 shares. The transaction has been approved by board of directors of the company.

The payment date for the transaction is June 5, 2024.