7th Series CB Conversion of 7 Billion Won Yields 63,737 New Shares, Diluting Existing Shareholders by 0.41%
Exercise of conversion rights: On May 28 and June 1, 2026, conversion requests for 7 billion won of the 7th series unsecured private convertible bonds (conversion price 109,824 won) were made, resulting in the issuance of 63,737 new shares.
Dilution impact: The new shares represent 0.41% of total outstanding shares (15,528,125 shares), causing a slight dilution of existing shareholders' value.
Remaining unconverted balance: The remaining unconverted amount of this series is 36 billion won (convertible into 327,797 shares), indicating potential future dilution.
Conversion price adjustments: The bond's conversion price was adjusted on January 14, 2025, and March 16, 2026; the current conversion price is lower than the market price (153,100 won), favoring conversion.
[AI Summary]The conversion of 7 billion won of 7th series CB results in a minor dilution of 0.41%, which is part of planned financing; immediate share price impact is limited. However, the remaining 36 billion won unconverted could lead to further dilution, posing a long-term burden on shareholder value.