WOOSUNG MATERIALS Adjusts Conversion Price for 8th CB Upward from KRW 408 to 4,080 Due to Stock Reverse Split
WOOSUNG MATERIALS adjusted the conversion price of its 8th unregistered unsecured private convertible bonds from KRW 408 to 4,080 following a stock reverse split decided on March 11, 2026.
As a result, the number of shares issuable upon conversion decreased from 6,127,450 shares to 612,745 shares. This is a mandatory adjustment reflecting the reduction in shares due to the reverse split.
The adjustment was based on the terms to maintain equal economic effect for bondholders before and after the reverse split. No separate board resolution was held.
[AI Summary]The conversion price adjustment due to the stock reverse split has a neutral direct impact on shareholder value. However, the reverse split itself, aimed at normalizing stock trading, may lead to increased short-term price volatility.
KOSPI Filing Information
Filing: Adjustment of Conversion Price, Exercise Price of Stock Subscription Rights, and Exchange Price (Notice of Disclosure)