Cheongbo Terminates Sale of Self-Convertible Bonds and Cancels KRW 6.5 Billion of Bonds - Potential Dilution Reduced to 5.44%
Cheongbo amended its disclosure on the decision to sell self-convertible bonds, confirming termination of the sale contract due to a cancellation agreement for the convertible bonds.
Of the original KRW 10 billion in convertible bonds, only KRW 3.5 billion were sold, with the remaining KRW 6.5 billion cancelled, reducing potential equity dilution from 16.36% to 5.44%.
The sale proceeds of KRW 3.675 billion are intended for acquisition of other companies' shares, with buyers being Noblesse and Lucky Partners 1ho Fund.
[AI Summary]Cheongbo reduced potential dilution risk by cancelling KRW 6.5 billion of convertible bonds, but the remaining KRW 3.5 billion bonds still pose a potential 5.44% dilution if converted. Given the conversion price of KRW 1,000 versus current stock price of KRW 475, conversion is unlikely. The use of proceeds for acquisition of shares in other companies remains undisclosed in detail, leaving uncertainty.
KOSDAQ Filing Information
[Correction of Description] Report on Major Matters (Decision on Sale of Self-Convertible Bonds)