BITPLANET Cancels 18th Series Convertible Bond Issuance Due to Investor Withdrawal and Analysis of Existing Dilution Risk
BITPLANET cancelled the issuance of the 18th series unregistered unsecured private convertible bonds decided on May 14, 2026 due to the withdrawal of the investor IBKC-Wanted Lab New Technology Investment Association No.1.
The cancellation is not attributable to the company, and no new capital was raised as a result.
Existing outstanding convertible bonds from the 16th and 17th series total 7 billion KRW, with potential conversion shares representing approximately 7.82% of total outstanding shares, posing existing dilution risk.
[AI Summary]The cancellation of BITPLANET's 18th series convertible bond issuance is an unavoidable measure due to investor withdrawal and does not directly reflect on the company's credit. However, the existing convertible bonds' potential dilution remains a burden on shareholder value. No immediate capital change occurs, and stock price impact is expected to be limited.
KOSDAQ Filing Information
[Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)