Tera Science Completes 1 Billion KRW Capital Increase at 84.7% Discount, Diluting 9.4% of Shares and Threatening Shareholder Value

Tera Science completed a third-party allotment capital increase of 10 million shares at 100 KRW per share, raising 1 billion KRW for operating funds from BM Investment Union.
The issue price is an 84.7% discount to the previous closing price of 654 KRW, causing a 9.4% dilution relative to total outstanding shares of 106,378,770, significantly impairing existing shareholder value.
The new shares are subject to a 1-year lock-up, but the company faces delisting risk and financial uncertainty, with no shareholder return policies in place.
[AI Summary]This capital increase by Tera Science severely damages shareholder value due to the extreme discount and high dilution, while the opaque selection of the counterparty and the use of funds for mere operational cash burn rather than growth initiatives drastically reduce long-term investment appeal.