Sangsangin Co., Ltd. announced a private placement of 2,400,096 redeemable convertible preferred shares at a price of KRW 8,333 per share for the gross proceeds of KRW 19,999,999,968 on September 5, 2022. The transaction will include participation from OK Savings Bank Co.,Ltd. The shares are allotted through third party allotment. The preferred shares are fully convertible into common shares from September 13, 2023 to September 12, 2032.

The shares have a holding period of 1 year. The transaction has been approved by Board of Directors of company. The transaction is expected to close on September 13, 2022.