iNtRON Biotechnology Decides to Issue 9th Convertible Bond Worth 3 Billion KRW at Premium Conversion Price of 3,100 KRW, Dilution of 3.13%

iNtRON Biotechnology decided on June 30, 2026, through a board resolution, to issue the 9th series of unregistered unsecured private placement convertible bonds worth 3 billion KRW.
The raised funds will be used for operating and facility expenses, with 2 billion KRW allocated for itLysin and IMPA technology development and 1 billion KRW for production equipment expansion.
The conversion price is set at 3,100 KRW, which is 18% higher than the current stock price of 2,625 KRW, and there is no down-round reset clause, favoring existing shareholders. Upon conversion, the number of new shares is 967,741, representing 3.13% of total outstanding shares. Put and call options are granted, and the bond carries a zero coupon.
[AI Summary]iNtRON Biotechnology raised funds through a 3 billion KRW convertible bond issuance but minimized dilution risk for existing shareholders by setting a 20% premium conversion price and excluding down-round reset. The proceeds will be invested in technology development and facility expansion, contributing to mid- to long-term growth. However, full conversion will lead to a 3.13% dilution, and the zero-coupon structure means investors rely on conversion premium for returns.