Cloud Air Co.,Ltd. announced a private placement of 5,333,333 common shares of par value, KRW 1,000 at a price of KRW 1,500 per share for gross proceeds of KRW 7,999,999,500 on September 17, 2021. The transaction will include participation from existing investor, K Anchor Inc. The company will issue securities through third party allotment method. The company expects to close the transaction on December 27, 2021. The securities issued are subject to hold period of one year from the date of listing. The transaction has been approved by the board of directors of the company. The number of shares issued prior to the transaction are 56,032,293 shares.