CSA Cosmic Decides Massive 75 Million Share Rights Offering for Operating Funds, Severe Shareholder Dilution Expected

CSA Cosmic decided on June 9, 2026, to conduct a third-party allotment rights offering of 75 million shares to its largest shareholder GNB Union to raise 15 billion KRW for operating funds.
The issue price of 200 KRW is slightly above the current market price of 197 KRW, but the 119% dilution relative to pre-issuance shares will significantly impair existing shareholder value.
Although the new shares are subject to a one-year lock-up, the massive supply overhang may exert long-term downward pressure on the stock price.
[AI Summary]CSA Cosmic's massive rights offering equivalent to 119% of outstanding shares severely dilutes existing shareholders' equity. While the issue price is near market, the dilutive effect dominates, and the allotment to the largest shareholder lacks minority protection.