IHQ Inc. announced a private placement of 15,408,322 common shares at the price of KRW 649 per share for gross proceeds of KRW 10,000,000,978 on August 11, 2022. The transaction will include participation from returning investor KH Feelux Co., Ltd. The company will issue shares of par value of KRW 500 per share through third party allocation increase method. The shares will be locked up for a period of one year.

The transaction has been approved by board of directors of the company. The payment date for the transaction is August 25, 2022 and September 13, 2022.