On July 5, 2024, Longtu Korea Inc. closed the transaction. The company announced that it has issued 3% Series 6 Bearer Interest Unsecured Private Placement Convertible Debentures due July 5, 2027 for the gross proceeds of KRW 5,001,000,000 in second and final tranche. The transaction included participation from new investor ISE Commerce Company Limited for KRW 5,001,000,000.

The bonds bear 3% coupon rate, 5% maturity rate and matures on July 5, 2027. The bonds are 100% convertible into 3,780,045 shares at a fixed conversion price of KRW 1,323 from July 5, 2025 to June 4, 2027. The transaction has been approved by shareholders and is expected to close on July 5, 2024.

The securities are restricted to a hold period.