Alchera Raises About 1 Billion KRW via 403,877 Convertible Preferred Shares for Physical AI Infrastructure, Minimal Dilution of 0.97%
Alchera disclosed on May 13, 2026 a resolution to issue 403,877 convertible preferred shares via a third-party allotment, raising approximately 1 billion KRW for operating capital.
The issue price is 2,476 KRW per share, an 8.4535% premium over the reference price of 2,282.66 KRW, and the new shares are subject to a 1-year lock-up.
Each convertible preferred share converts into one common share at a conversion price of 2,476 KRW, with a conversion period from May 22, 2027 to April 22, 2029. The conversion price may be adjusted downward to a minimum of 1,734 KRW if the market price falls.
Proceeds will be used for building a data pipeline for Physical AI model training and AI Agent deployment, with total budget of 5.16 billion KRW from 2026 to 2028, of which 1 billion KRW is covered by this issuance.
The new shares represent 0.97% of outstanding shares, resulting in minimal dilution. The preferred shares are participating, non-cumulative with a minimum annual dividend of 1% of par value and carry one vote per share.
The third-party allottee is a fund managed by Tiger Asset Management, with NH Investment & Securities as trustee. The fund has previously invested in Alchera's convertible bonds.
[AI Summary]Alchera raises operating funds via convertible preferred shares to invest in Physical AI growth driver. Dilution under 1% is minimal, and the 1-year lock-up limits short-term selling pressure. The specific productive use of funds is positive for long-term shareholder value, though potential downward conversion price adjustments and preferred dividend obligations are risks. Final score of 6 indicates a sound capital raising.
KOSDAQ Filing Information
[Correction of Description] Report on Major Events (Decision on Paid-in Capital Increase)