Total issuance amount of convertible bonds estimated at KRW 25 billion, maturity 3 years, effective yield 7.0% per annum (additional 4% after 2 years)
Put Option I: Bondholders can demand early redemption if consolidated operating profit falls below KRW 5 billion in any fiscal year from 2026 or if specific covenant not fulfilled within 18 months (IRR 3% then 7%)
Put Option II: Early redemption possible every 3 months from 36 months after issuance, redemption rates from 109.38% to 115.25%
Company Call Option: Company can early redeem up to KRW 5 billion within 12 months starting 1 year after issuance (IRR 7%)
Call Option: Company can call up to 20% (KRW 5 billion) of each bondholder's holdings every 3 months between 12-24 months after issuance, price reflecting 7% annual compound interest
Additional guaranteed yield: Additional 4% per annum paid directly by the company after 2 years
Bondholders must hold 20% (KRW 5 billion) of the issue until May 22, 2028
Exercise of call option by major shareholders limited to their ownership stake at issuance
KOSDAQ Filing Information
Report On Major Events (Decision On Issuance Of Convertible Bonds)