WOOSUNG MATERIALS Decides on 30 Billion Won BW Issuance, Exercise Price 4,080 Won, Potential Dilution of 4.64%
WOOSUNG MATERIALS has decided to issue 30 billion won in non-separated bonds with warrants. The counterparty has been changed to Gyeongwoo Co., Ltd., with an exercise price of 4,080 won and maturity extended to October 16, 2029.
The raised funds will be fully used for operating expenses and R&D. Upon warrant exercise, up to 7.35 million shares may be issued, resulting in a 4.64% dilution relative to current outstanding shares.
The counterparty Gyeongwoo Co., Ltd. has assets of 7.8 billion won, liabilities of 5.8 billion won, revenue of 555 million won, and a net loss of 141 million won, with no external audit, indicating low transparency and counterparty risk.
[AI Summary]WOOSUNG MATERIALS' BW issuance is a funding from a low-credit private investor; the use for operating funds is not productive. The high exercise price relative to market and put option may negatively impact the stock price, and dilution concerns are moderate. Overall investment risk is assessed as average.
KOSPI Filing Information
[Correction of Description] Report on Major Matters (Decision on Issuance of Bonds with Warrants)