Victex announced that it will issue 502,411 registered redeemable convertible preferred stock at a price of KRW 9,952 per share for gross proceeds of KRW 7,000,007,904 on April 23, 2024. The transaction include the participation from new investors AJU Good Super Gap Scale Up Fund for 150,722 for KRW 1,499,985,344 and AJU Good Venture Fund 2.0, a fund managed by AJU IB INVESTMENT Co., Ltd. for 351,689 shares for KRW 3,500,008,928. The capital is issued through Third-party capital increase method.

The shares can be 100% converted into 502,412 registered common stock for conversion price of KRW 9,952 per share. The conversion period is from May 4, 2024 to May 3, 2034. The transaction is expected to close on May 3, 2024.

The transaction has been approved by the board of directors.