ON Co., Ltd. announced a private placement of 30,910 shares at an issue price of KRW 258,816 per share for gross proceeds of KRW 8,000,002,560 on June 22, 2021. The transaction will include participation from new investor, Hitron Systems Inc. for 34% stake. The transaction has been approved by the board of directors of the company. The company expects to receive tranche 1 by June 30, 2021 and final tranche until July 30, 2021. The payment date is July 30, 2021.