DA Technology Decides on Third-Party Allocation Paid-in Capital Increase Including CEO... "Securing Funds for Order Expansion"

[Asia Economy Reporter Jang Hyowon] DA Technology secures operating funds through a third-party allotment paid-in capital increase including the CEO.

DA Technology (CEO Lee Jongwook), a specialized company in secondary battery and semiconductor equipment, announced on the 23rd that it has decided on a 6 billion KRW third-party allotment paid-in capital increase to secure operating funds due to the expansion of orders for secondary battery automation equipment.

In this capital increase, the largest shareholder, CEO Lee Jongwook, and one related party will participate with 1,510,575 shares (5 billion KRW), and two others will participate with 302,114 shares (1 billion KRW). The issue price per new share is 3,310 KRW, and the listing dates for the new shares are scheduled for December 15 and October 26, respectively.

As a result of this capital increase, the largest shareholder's stake, including CEO Lee Jongwook and related parties, will increase to 4,660,699 shares (17.59%).

The funds raised through the paid-in capital increase will be used as operating funds in response to delivery and order expansion. A company official explained, "Usually, orders are mostly made in the first half of the year in the industry, but unusually, orders are actively concentrated in the second half. This is to proactively secure operating funds in preparation for the influx of orders, including supplying secondary battery automation equipment to domestic and overseas clients such as US cell manufacturers."

CEO Lee Jongwook is taking steps to strengthen management rights as well as responsible management through this paid-in capital increase. A company official said, "The CEO's direct investment shows the will for responsible management and strengthening management rights, as well as stable operation of core businesses. We will continue to do our best to enhance market trust and increase shareholder value."

Meanwhile, the company has secured credibility in technology through selection for national projects and patent registrations. DA Technology was finally selected in July for a national project by the Small and Medium Business Technology Information Promotion Agency for its secondary battery precision processing technology. Additionally, last month, it completed patent registration for the secondary battery laser notching system, gaining recognition for its technological capabilities and laying the foundation for sales of secondary battery equipment supply.