THiRA-UTECH CO., LTD. announced a private placement of 359,712 converible participation cumulative preferred shares at an issue price of KRW 13,900 for gross proceeds of KRW 4,999,996,800 on July 20, 2023. The transaction will include participation from new investor, IBKTS Exit Jho Private Equity Fund for 359,712 shares. The zero coupon share are 88% convertible into 318,979 common shares at an issue conversion price of KRW 15,675 per share between the period starting from July 31, 2024 and ending on July 30, 2033.

The redemption period is from July 31, 2025 to July 30, 2033. The securities have a hold period of one year. The method of capital increase is through third party allocation.

The expected date of payment is July 28, 2023. The transaction has been approved by board of directors of the company.