On January 23, 2024, IM Co.,Ltd closed the transaction. The company will now issue Series 9 bonds for the gross proceeds of KRW 3,000,000,000. The transaction included participation from returning investor Baytree Co., Ltd. The bonds bear 2% coupon rate and 6% maturity rate and matures on January 23, 2027.

The bonds are 100% convertible into 518,134 shares at a fixed conversion price of KRW 5,790 from January 23, 2025 to December 23, 2026. The transaction has been approved by the shareholders of the company and is expected to close on January 26, 2024.