Qurient Co., Ltd. announced a private placement of Series 1 Bearer-Bearing Interest-bearing, Unsecured Private Placement Perpetual Convertible Bonds for the gross proceeds of KRW 3,500,000,000 and 594,670 convertible preferred stock at a price of KRW 4,204 for the gross proceeds of KRW 2,500,000,000 for the total gross proceeds of KRW 6,000,000,000 on December 19, 2023. The transaction will include participation from new investor, Premier Partners, LLC. The company will issue 483,652 shares at a 100% conversion rate at a conversion price of KRW 5,169 between the conversion period starting from December 27, 2024 and ending on December 27, 2053. The maturity date of the bonds is September 7, 2053. The transaction has been approved by the board of directors of the company. The preference shares will be convertible at a conversion price of KRW 4,204. The transaction is expected to close on December 27, 2023.

On December 20, 2023, the company announced that the bonds will mature on December 27, 2053.

On December 26, 2023, the company announced that the preferred shares will now be convertible into 483,652 common shares at a conversion price of KRW 5,169 per share.