Orion Subsidiary PAN ORION Decides to Acquire 42.5 Billion KRW Convertible Bonds of Ligachen Bioscience - Strategic Investment Participation with No Immediate Dilution but Returns Linked to Stock Performance
Orion's subsidiary PAN ORION Corp. Limited decided to acquire 42.5 billion KRW of non-guaranteed private placement convertible bonds issued by Ligachen Bioscience in cash.
The purpose is investment participation in a company selected for high-tech strategic industry fund support, indicating a strategic intent.
The convertible bonds have a conversion price of 149,300 KRW, maturity on July 24, 2036, and zero coupon and yield to maturity. The conversion price may be adjusted downward if the market price falls, potentially increasing dilution.
This acquisition does not dilute Orion's shares, but the investment amount of 42.5 billion KRW represents 1.09% of equity and returns depend on Ligachen's financial performance.
[AI Summary]Orion's subsidiary made a strategic investment by acquiring 42.5 billion KRW convertible bonds, with no immediate dilution. However, conversion price adjustment clauses could increase dilutive shares if Ligachen's stock price declines, and investment returns are tied to Ligachen's performance.
KOSPI Filing Information
Decision To Acquire Equity-Linked Bonds (Voluntary Disclosure) (Major Management Matters Of Subsidiary)