Blue Industrial Development Corrects Convertible Bond Issuance Decision (Conversion Price Raised to 7,500 Won)
Blue Industrial Development submitted a correction report for the issuance of 80 billion won in 4th series unregistered, interest-bearing, unsecured private convertible bonds (conversion price raised from 7,392 won to 7,500 won)
Shares to be issued upon conversion: 1,066,667 shares (22.47% of total outstanding shares of 4,747,965), dilution ratio of 22.47%
Including remaining convertible shares from existing 3rd series bonds (30 billion won, conversion price 10,164 won, 295,159 shares), total dilution ratio is 28.68% (1,361,826 shares)
Minimum adjusted conversion price set at 5,250 won (up from 5,174 won)
Bondholders can exercise early redemption put option quarterly from May 18, 2027 (early redemption rate of 2.00% per annum compounded)
Issuer can exercise call option 12 times from May 18, 2027 to April 18, 2028 (up to 50% of issue amount, purchase rate of 2.00% per annum compounded)
This correction reflects recalculation of conversion price and number of shares due to reverse stock split (12:1 effective May 8, 2026)
Detailed terms of put and call options including exercise periods and payment locations
KOSPI Filing Information
Filing: [Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)