Acquisition and Cancellation of 2nd Series Convertible Bonds Following Put Option Exercise
UTI acquired 700 million KRW of its 2nd series unregistered, non-guaranteed private convertible bonds issued in June 2024, following the exercise of put options by holders on June 29, 2026.
The acquired bonds will be cancelled via Korea Securities Depository registration removal, leaving no remaining bonds for that series.
The adjusted conversion price of 21,458 KRW is far above the current stock price of 4,255 KRW making potential dilution unlikely, but the acquisition eliminates any residual dilution risk.
[AI Summary]UTI used internal funds to early redeem 700 million KRW of convertible bonds, reducing debt and eliminating dilution potential, but the scale is small with limited stock price impact. The capital allocation is defensive and governance is routine.
KOSDAQ Filing Information
Acquisition Of Convertible Bonds (Including Overseas Convertible Bonds) Before Maturity After Issuance (2nd Series)