Exion Group Decides to Sell Self-Convertible Bond Worth 500 Million KRW, Conversion Price of 6,155 KRW Leads to Low Dilution of 0.87% for Operating Funds
Exion Group decided to resell 500 million KRW worth of its 11th series unregistered private convertible bond, which it previously repurchased, to an individual investor Lee Eun-hyuk.
The purpose is to secure operating funds. The conversion price of 6,155 KRW is significantly higher than the current stock price of 1,200 KRW, making conversion unlikely, and the potential dilution is only 0.87%.
The buyer is an individual with no special relationship to the company. A deposit of 200 million KRW has been received, and the balance of 300 million KRW is due on August 21, 2026.
The convertible bond matures on November 13, 2028, and includes early redemption options starting November 2026.
No share buyback, cancellation, or dividend-related actions were reported.
[AI Summary]Exion Group raised 500 million KRW by selling a self-held convertible bond for defensive operating funds, but the high conversion price versus market price minimizes near-term dilution risk. The buyer's individual status and defensive capital allocation limit positive stock price impact; investors should monitor future conversion activity and fund usage.
KOSDAQ Filing Information
[Correction of Description] Report on Major Matters (Decision on Sale of Self-Convertible Bonds)