Cellfie Global Co.,Ltd. announced a private placement of 19,117,648 common shares at a price of KRW 680 per share for the gross proceeds of KRW 13,000,000,640 on March 21, 2023. The shares will be allotted through third-party allotment of shares. The transaction will include participation from Cellfie Global New Growth Fund 1, for 7,352,942 shares, for proceeds of KRW 5,000,000,560, Cellfie Global New Growth Fund 2 and Cellfie Global New Growth Fund 3, for 5,882,353 shares, for proceeds of KRW 4,000,000,040 by each, for aggregate proceeds of KRW 8,000,000,080.

The transaction has been approved by the board of directors of the company. All securities issued will be subject to a hold period of one year. The initial closing of transaction is expected on March 31, 2023.

The final tranche of transaction is expected to close on May 30, 2023.