People & Technology Ms, Inc. announced that it expects to receive KRW 5.99999873 billion in funding from People & Technology Inc.

Mstns Co.,Ltd. announced a private placement of 2,371,541 common shares at a price of KRW 2,530 per share for gross proceeds of KRW 5,999,998,730 on April 25, 2023. The transaction will include participation from existing investor, People & Technology Inc. The company followed 3rd party allotment method in the transaction. The transaction has been approved by the board of directors.

The transaction is expected to close on May 8, 2023.