Pavonine has adjusted the conversion price of its 5th series convertible bonds downward from 2,935 KRW to 2,565 KRW, effective June 15, 2026, due to a decline in the market price.
The lower conversion price increases the number of shares issuable upon conversion from 1,921,635 to 2,198,830, adding approximately 277,195 potential shares, or about 2.45% of outstanding shares.
This adjustment is a routine procedure per the bond terms and does not involve new fundraising or management changes. The impact on existing shareholders is limited.
[AI Summary]Pavonine's downward conversion price adjustment is a technical correction reflecting market price decline, with a limited dilution effect of 2.45%. No new capital or strategic changes are involved, so the short-term impact on stock price is neutral. Investors should be aware of possible further adjustments due to future price movements.