Sphere Corp's Subsidiary SNC Rights Offering of 16.2 Billion KRW for Operational Funding No Shareholder Dilution

Sphere Corp's wholly-owned subsidiary Sphere Nickel Cobalt Pte. Ltd. SNC is conducting a rights offering of 10.46 million common shares at 1,545 KRW per share to raise approximately 16.2 billion KRW.
The funds will be used for the subsidiary's guarantee fee payments and operational working capital.
Since Sphere Corp holds 100% of SNC before and after the offering, there is no dilution for existing shareholders of the parent company.
SNC's total assets are approximately 2.28 billion KRW, representing 2.39% of Sphere Corp's consolidated assets of 95.36 billion KRW.
Sphere Corp previously acquired a 10% stake in EII in February 2026; this capital raise is to secure operational funds for SNC.
[AI Summary]Sphere Corp's subsidiary capital increase is a routine internal financing with no dilution to parent shareholders. The amount is small relative to consolidated assets and used for operations, thus limited stock price impact.