WOOSUNG MATERIALS Adjusts Convertible Bond Price Upward Due to Stock Split, Reducing Dilution Risk
WOOSUNG MATERIALS has adjusted the conversion price of its 7th unregistered unsecured private convertible bonds from 523 KRW to 5,230 KRW effective April 15, 2026.
This adjustment follows the stock split decided on March 11, 2026, with the conversion price multiplied by 10 and the number of convertible shares reduced from 1,149,139 to 114,913 accordingly.
Based on the outstanding bond principal of 601 million KRW, the higher conversion price reduces the number of shares to be issued upon conversion, thereby alleviating potential dilution for existing shareholders.
[AI Summary]The conversion price adjustment is a mechanical result of the stock split, but it effectively reduces potential dilution by 90%, protecting existing shareholder value. This is a mild positive signal for the stock.
KOSPI Filing Information
Filing: Adjustment of Conversion Price, Exercise Price of Stock Subscription Rights, and Exchange Price (Notice of Disclosure)