Redwoods Co.,Ltd announced a private placement of 769,231 common shares at an issue price of KRW 611 per share for the gross proceeds of KRW 470,000,141 on December 21, 2023. The transaction will include participation from new individual investor Jaewon Lee. The transaction has been approved by the shareholders of the company.

The shares are restricted to a hold period. The transaction is expected to close on December 29, 2023.