Full Early Redemption and Cancellation of 6th Series Convertible Bonds Eliminates Potential Dilution Risk... Protecting Shareholder Value
On May 26, 2026, iWIN acquired the 6th series unregistered unsecured private convertible bonds before maturity due to the exercise of put options by bondholders.
The total acquisition amount was 1,062,834,000 KRW (including principal of 1 billion KRW and interest), funded by internal cash.
After acquisition, the face value of the bonds becomes zero, and the company plans to cancel (deregister) all acquired bonds.
This action completely eliminates the potential dilution risk of approximately 1.36 million shares (about 3.1% of outstanding shares) that could have been issued at the conversion price of 735 KRW.
[AI Comprehensive Analysis]This disclosure is positive as it reduces debt and prevents equity dilution through early redemption and cancellation of convertible bonds, but the cash outflow is a neutral factor. With no remaining convertible bonds, it is interpreted as a positive signal for shareholder value protection.
KOSDAQ Filing Information
Filing: Acquisition of Convertible Bonds (Including Overseas Convertible Bonds) Before Maturity After Issuance