Shinhwa IT Co., Ltd. announced that it will issue 27,692 common shares at a price of KRW 72,222 per share for gross proceeds of KRW 1,999,971,624 on January 19, 2022. Post closing, the investor will hold 88,615 shares, representing 58.18% stake in the company. The total number of issued shares of the company before the closing of the transaction is 124,615 shares.

The transaction has been approved by the board of directors of the investor, and is expected to close on March 31, 2022.