Ehwa Defense Technology announced a private placement of 6,504,065 common shares at a price of KRW 1,230 per share for gross proceeds of KRW 7,999,999,950 and 809,716 shares at the price of KRW 1,235 per share for gross proceeds of KRW 999,999,260 for total proceeds of KRW 8,999,999,210 on July 12, 2021. The transaction will include participation from new investor Zeus No. 2 Association through third-party allocation increase. Kyu-sik Jo and Byung-nam Min will each acquire 404,858 shares at the price of KRW 1,235 per share. The transaction has been approved by the board of directors of the company. The payment date is on July 20, 2021. The securities to be issued are subject to a hold period of one year.