OLIPASS Corporation announced a private placement that it will issue Series 10 Bearer Interest Unsecured Private Placement Convertible Bonds on September 4, 2023. The share are converted into 2,398,081 convertible bonds at a price of KRW 2,085 per share for the gross proceeds of KRW 4,999,998,885. The transaction will include participation from new investor, Star & Partners Co., Ltd and individual investor, Lee, Bal Woo.

The transaction is expected to close on November 30, 2023. The transaction has been approved by the board of directors of the company.