Conversion Price Adjustment: The conversion price of the 1st series unregistered private convertible bond was raised from 6,783 won to 9,690 won (effective date: 2026-05-28).
Reason for Adjustment: Under the conversion price adjustment rules due to market price fluctuations, the calculated price based on the weighted average stock price for 1 month, 1 week, and the latest day was higher than the existing conversion price, leading to an upward adjustment.
Reduced Dilution Effect: With the same outstanding principal amount of 14.8 billion won, the number of convertible shares decreased from 2,181,925 to 1,527,347 shares, a reduction of about 30%, mitigating potential dilution risk.
Stock Price Impact: The current stock price (14,330 won) still exceeds the adjusted conversion price (9,690 won), maintaining conversion incentives for bondholders. However, the reduced dilution scale is positive for existing shareholders.
[AI Comprehensive Analysis]This disclosure is an automatic adjustment based on market conditions and not a special management decision. Nonetheless, the upward adjustment of the conversion price reduces the number of shares to be issued upon future conversion, partially alleviating concerns about dilution of existing shareholder value. However, since the conversion price remains below the market price, the potential exercise of the convertible bonds persists, so investors need continuous monitoring.
KOSDAQ Filing Information
Filing: Adjustment of Conversion Price (First Series)