KOAS Decides to Acquire and Cancel 500 Million KRW of 5th Convertible Bonds Before Maturity, Preventing Potential Share Dilution
KOAS decided on June 10, 2026, to acquire 500 million KRW of its 5th unsecured private convertible bonds before maturity. The acquisition is due to the bondholder's exercise of a put option and will be funded with internal cash.
The bonds to be acquired are part of the remaining 650 million KRW of the 5th series issued in September 2024, leaving a balance of 150 million KRW after acquisition. The acquired bonds will be cancelled, preventing conversion into equity.
The conversion of these bonds would have issued 167,001 shares representing 1.34% of total outstanding shares. The acquisition and cancellation eliminate this potential dilution, protecting existing shareholder value.
The conversion price of 2,994 KRW is above the current stock price of 2,340 KRW, but since the bonds are cancelled, no dilutive impact occurs.
Funding from internal sources indicates low liquidity risk. The remaining 150 million KRW in convertible bonds still poses a future risk and requires monitoring.
[AI Summary]KOAS is acquiring and retiring 500 million KRW of its 5th convertible bonds before maturity. This defensive capital allocation in response to a put option exercise has a positive effect on shareholder value by preventing 1.34% potential dilution. The use of internal funds poses no credit risk, while the remaining 150 million KRW should be monitored.
KOSPI Filing Information
Report On Major Events (Decision On Acquisition Before Maturity Of Self-Convertible Bonds)