Quratis Inc. announced a private placement of 1,186,943 common shares at a price of KRW 3,370 common shares at a price of KRW 3,999,997,910 on September 25, 2023. The transaction has been approved by the shareholders of the company and is expected to close on November 30, 2023. The transaction will include participation from new individual investor, Jinho Kwon.
On the same day, the company announced that it also issued series 3 unsecured convertible bonds for the gross proceeds of KRW 4,000,000,000. The bonds will be 100% convertible into 1,152,073 common shares at a conversion price of KRW 3,472 per share. The transaction has been approved by the shareholders of the company and is expected to close on November 30, 2023. The bonds will be matured on a debt maturity date of November 30, 2028. and have a maturity interest rate of 7%.