Acquisition of Aprogen CB for 10 Billion Won - 7.83% of Equity
N2TECH decided to acquire 10 billion won worth of 31st series unsecured private convertible bonds issued by its affiliate Aprogen in cash (7.83% of equity capital of 127.71 billion won)
The CB has a conversion price of 5,350 won, coupon rate of 2%, yield to maturity of 4%, and maturity on May 29, 2031
The conversion price is adjusted every 3 months, with a maximum downward adjustment to 70% of the initial conversion price
Bondholders can demand early redemption every 3 months starting 1.5 years after issuance (put option)
Aprogen is a loss-making company with a net loss of 140.57 billion won in 2025 on a consolidated basis
KOSDAQ Filing Information
Filing: Decision On Acquisition Of Bonds Related To Equity Securities (Voluntary Disclosure)