Moadata Sells Self-Held Convertible Bonds for 6.75 Billion Won, Faces 8.48% Dilution Risk on Conversion
Moadata disclosed the sale of its own convertible bonds on April 16, 2026, and amended the schedule to receive 6.75 billion won on July 15, 2026.
The bonds sold are part of the 7th unsecured private placement CB issued in 2023, which the company had previously repurchased. The sale price of 6.75 billion won for face value of 6.25 billion won represents a premium. The buyer is Artmat Investment Union.
The conversion price is 1,853 won per share, well above the current price of 889 won, making immediate conversion unlikely. However, full conversion would issue 3,372,908 new shares, equivalent to 8.48% of total shares after issuance, posing dilution risk if the stock price rises.
The stated purpose is to improve management efficiency and financial structure, hinting at near-term liquidity needs.
[AI Summary]Moadata raised 6.75 billion won by selling its self-held convertible bonds at a premium, improving liquidity but granting conversion rights to the buyer. This introduces a potential 8.48% dilution upon conversion, though the high conversion price defers the risk. The use of proceeds is unclear, and the counterparty Artmat Investment Union has limited disclosure, resulting in low credibility.
KOSDAQ Filing Information
[Correction of Description] Report on Major Matters (Decision on Sale of Self-Convertible Bonds)