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
Filing: Report On Major Events (Decision On Issuance Of Convertible Bonds)