Woosung Materials Adjusts Convertible Bond Conversion Price from 521 Won to 5,210 Won Due to Stock Merger, No Dilution Impact
Woosung Materials adjusted the conversion price of its 5th unregistered private convertible bond from 521 won to 5,210 won due to a stock merger share consolidation.
The number of shares issuable upon conversion decreased from 9,596,928 to 959,692, but the total conversion value of 5 billion won remains unchanged, resulting in no dilution for existing shareholders.
The adjustment is effective from April 15, 2026, and was made without a separate board resolution.
[AI Summary]This conversion price adjustment is a technical change following the stock merger, neutral to shareholder value. The proportional adjustment ensures no actual dilution effect, maintaining the economic position of bondholders and existing shareholders.
KOSPI Filing Information
Filing: Adjustment of Conversion Price, Exercise Price of Stock Subscription Rights, and Exchange Price (Notice of Disclosure)