Willbes Revises Terms for 10bn Won Convertible Bond - Shortened Payment Date, Shift to In-Kind Contribution

Willbes corrected terms for its 35th series convertible bond issuance of 10bn won (payment date: 2026.03.30→02.12, maturity: 2029.03.30→02.12, etc.)
Conversion price: 1,000 won; potential dilution of 14.87% of outstanding shares (up to 10 million shares)
Payment method changed from cash to other (in-kind contribution of real estate in Songpa-gu, Seoul and debt assumption)
Issuance target changed from 'J&W Holdings Investment 3rd Fund' to 'Seoul F&B'
Disclosed possibility of largest shareholder change upon conversion
Fund usage: operating funds 10bn won, asset acquisition 10bn won
Seoul F&B: total assets 161.1bn won, sales 180.8bn won, net income 1.9bn won (2024)

Filing: [Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)
Company: THE WILLBES & (008600)
Submission: THE WILLBES & CO.,LTD
Receipt: 02-04-2026