Due to a decline in market price, the conversion price of the convertible bond was lowered by 16.6% from 1,236 won to 1,031 won.
This adjustment increases the number of shares issuable upon conversion from 12,135,922 to 14,548,981, an increase of approximately 2,413,059 shares, representing dilution of 6.34% relative to outstanding shares.
The adjustment was automatic per the bond contract without a board resolution and does not involve new capital raising; it only modifies the terms of the existing convertible bond.
[AI Summary]The downward conversion price adjustment dilutes existing shareholder equity by 6.34%. Without new capital inflow, the increased share count upon conversion may weigh on the stock price in the near term.
KOSPI Filing Information
Adjustment of Conversion Price, Exercise Price of Stock Subscription Rights, and Exchange Price (Notice of Disclosure)