Advised on legal acquisition of treasury stock and exercise of redemption rights by investors

D’LIGHT Law Group advised startups on how to legally acquire treasury stocks in a situation where investors wish to exercise redemption rights or put options for redeemable convertible preferred stocks they own with respect to startups. There are two ways to acquire branch stocks: (1) by using dividends (Article 341 of the Commercial Act) and (2) by acquiring treasury stocks for a specific purpose (Article 341-2 of the Commercial Act). As there was no dividend available income, D’LIGHT Law Group provided advice on the entire process of acquiring treasury stock for a specific purpose. Among the methods of acquiring treasury stock for a specific purpose, the company provided advice on how to acquire treasury stock by a shareholder by exercising their stock appraisal right.