VIVIEN CORPORATION Decides Third-Party Allotment Rights Offering for 5 Billion KRW Operating Funds, Diluting Existing Shareholders by 33.5%

VIVIEN CORPORATION has decided on a third-party allotment rights offering to Base100, issuing 805,152 new shares to raise 5 billion KRW in operating funds.
The issue price is 6,210 KRW, a 10% discount from the base price of 6,898 KRW, and the total outstanding shares will increase by 33.5%, significantly diluting existing shareholder value.
Payment date is June 29, 2026, and the new shares are expected to be listed on July 10, 2026. The issued shares will be subject to a one-year lock-up, but the use of funds being merely for working capital without specific growth plans indicates low capital efficiency.
[AI Summary]This rights offering raises concerns of shareholder value erosion due to high dilution and an opaque third-party allocation. The purpose of raising operating funds without concrete growth plans suggests low capital efficiency. The counterparty risk is very high as Base100's financial soundness is unverified.