Blue Industrial Development Announces 15 Billion Won Convertible Bond Issuance and Correction
Revised use of 15 billion won CB proceeds: 5 billion for operating funds, 10 billion for acquiring securities of other corporation
Conversion price adjusted from 563 won to 6,756 won due to reverse stock split; number of shares upon full conversion reduced from 26,642,984 to 2,220,248
Existing 3rd series CB conversion price also adjusted from 847 won to 10,164 won; convertible shares reduced from 3,541,912 to 295,159
Total potential dilution from all outstanding CBs (including new) is 52.98% of current shares (2,515,407 shares vs 4,747,965), same ratio as before
If all conversion rights exercised, AOH조합 would hold 31.86% stake, potentially changing controlling shareholder
Put option notice period changed from 20-10 days to 45-30 days; payment place changed to Sangsangin Savings Bank
Issuer's call option exercise frequency changed from quarterly to monthly (total 12 times); exercise limit remains 50%
KOSPI Filing Information
Filing: [Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)