SoluM Cosmetic Secures 39.34% Stake in IQURE, Becomes Largest Shareholder

SoluM Cosmetic has secured a 39.34% stake in IQURE, becoming its largest shareholder.

SoluM Cosmetic disclosed through the Electronic Disclosure System (DART) on the 4th that it now holds 24,287,115 IQURE shares (39.34%). The filing reports a new acquisition of newly issued shares through a paid-in capital increase under a share subscription agreement.

The figure combines the holdings of the reporting party and six specially related parties. Based on voting shares, the combined holding is 24,201,586 shares (39.20%). The reporting party alone holds 18,858,802 shares (34.07%).

The acquisition was carried out through a third-party allotment paid-in capital increase. It took effect on Aug. 29, and the acquisition price was 1,034 won per share.

The specially related parties include Shinsin Pharmaceutical (2,901,353 shares, 4.70%), Deep Dive K-Beauty 2026 Private Equity Limited Partnership (2,417,794 shares, 3.92%) and CEO Lee Young-seok (109,166 shares, 0.18%).

SoluM Cosmetic said its purpose in holding the shares was “to exercise influence as the company’s largest shareholder.” It intends to participate in management matters, including the appointment and dismissal of executives, amendments to the articles of incorporation and changes to capital.

The total acquisition funding was 19.5 billion won, consisting of 16,342,660,000 won in internal funds and 3,157,330,000 won in borrowings. The borrowed funds were drawn from a loan commitment of up to 28 billion won from GI Value-Up First.

SoluM Cosmetic entered into a share pledge agreement using its 18,858,802 shares as collateral. The interest rate is 7.30%, and the collateral maintenance ratio is 120%.

It also entered into a shareholders’ agreement with Shinsin Pharmaceutical and Deep Dive K-Beauty 2026 Private Equity Limited Partnership, covering cooperation in exercising voting rights, tag-along rights, preemptive purchase rights and a right to request the sale of shares (call option).