Xplus Inc. announced a private placement of Series 4 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 30,000,000,000 on May 16, 2024. The transaction will include participation from new investor, SBK Investment Co., Ltd. The bonds will have a coupon rate of 4% and yield maturity rate of 7%. The bonds will be convertible into 20,229,265 shares at a conversion price of KRW 1,483.

The bonds will be matured on August 30, 2027. The transaction has been approved by the shareholders of the company and is expected to close on August 30, 2024.