Qurient Co., Ltd. announced a private placement to issue 2,558,199 common shares at an issue price of KRW 3,909 for the gross proceeds of KRW 9,999,999,891 and 795,635 Convertible Preferred Stock at an issue price of KRW 4,399 for the gross proceeds of KRW 3,499,998,365; aggregate gross proceeds of KRW 13,499,998,256 on April 12, 2024. The transaction will include participation from new investors DongKoo Bio & Pharma Co., Ltd. 2,558,199 shares and Premier IBK KDB K-Bio Vaccine Investment Fund 795,635 preferred shares. The securities are restricted to a hold period and is expected to close on May 17, 2024.

The redeemable shares are 100% convertible into 795,635 common shares at a fixed conversion price of KRW 4,399 from April 13, 2025 to April 12, 2029 and matures on April 12, 2029.