Wise birds Acquires and Cancels KRW 1.087B Convertible Bonds Due to Put Option Exercise... Potential Dilution Risk Reduced
On May 28, 2026, Wise birds acquired KRW 1,087.5 million in face value (acquisition cost KRW 1,196.8 million including interest) of its 2nd series unsecured private convertible bonds via over-the-counter purchase, following put option exercise by bondholders.
The acquired bonds will be fully cancelled through registry cancellation at Korea Securities Depository, eliminating potential conversion shares and partially alleviating dilution concerns for existing shareholders.
The acquisition was funded by internal resources. The remaining CB face value stands at KRW 18,912.5 million. Although the current stock price (KRW 1,063) is below the conversion price (KRW 1,111), making conversion unattractive, this buyback reduces financial obligations and signals a shareholder-friendly approach.
[AI Comprehensive Analysis]This disclosure is a contractual fulfillment (put option) rather than proactive capital reduction. The scale is only 2.2% of total market cap (~KRW 53.6B), limiting direct stock price impact. However, it is favorable for managing mid-to-long-term dilution risk from outstanding CBs.
KOSDAQ Filing Information
Filing: Acquisition of Convertible Bonds (Including Overseas Convertible Bonds) Before Maturity After Issuance