FNC Entertainment (FNCENT) decided to issue the 4th private unsecured convertible bond (CB) worth 120 billion won. Subscription/payment date: May 19, 2026, maturity: May 19, 2031.
Conversion price is 4,638 won, conversion period from May 19, 2028 to April 19, 2031. Shares to be issued upon conversion: 2,587,322 shares.
Put option (bondholder) and call option (company) exercisable from May 19, 2027 and every 3 months thereafter. Company's sell-down right up to 34.28% of total amount exercisable from May 19, 2027 to April 19, 2031.
Existing outstanding CBs of 20.343 billion won (conversion shares: 5,616,400) plus new CB result in total potential diluted shares of 8,203,722, representing 53.30% dilution relative to current outstanding shares of 15,392,808.
KOSDAQ Filing Information
Filing: [Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)