H&B Design Co., Ltd. announced a private placement of 2,821,670 common shares at the price of KRW 1,772 per share for gross proceeds of KRW 4,999,999,240 on November 28, 2023. The transaction will include participation from new investor Ajet Asset Global Co., Ltd. The company will issue shares of par value of KRW 500 per share through third party allocation method. The shares will be locked up for a period of one year.

Post closing, the total number of shares issued will increase from 12,906,438 shares to 15,728,108 shares. The transaction has been approved by board of directors of the company. The payment date for the transaction is December 18, 2023.