Redeemable Convertible Preferred Shares Conversion Results in 2.62% Increase in Common Shares... Routine Event with Limited Market Impact
LS THiRA-UTECH disclosed that a conversion request for 574,122 redeemable convertible preferred shares (RCPS) issued on July 28, 2023, into common shares was received on May 28, 2026.
The conversion ratio is 1:1, and the conversion price is 5,225 won, lower than the current market price of 7,090 won. Consequently, 574,122 new common shares will be issued, increasing total shares outstanding from 20,921,984 to 21,496,106, a 2.62% increase.
After conversion, remaining RCPS stand at 382,747 shares (equal to convertible shares), implying potential future conversions. However, this exercise of pre-existing conversion rights does not bring new capital inflow.
The additional listing date is scheduled for June 22, 2026, subject to change per regulatory schedules. This event is a routine procedure already known to the market, thus limited short-term price impact.
[AI Comprehensive Analysis]This disclosure pertains to the routine exercise of conversion rights for previously issued redeemable convertible preferred shares, information already known to the market, hence neutral to stock price. Although the conversion price below market causes slight dilution, the scale is small, resulting in low investment risk.
KOSDAQ Filing Information
Filing: Exercise of Conversion Right for Convertible Shares (Redeemable Convertible Preferred Shares)