Alpha AI Amends Payment Date for 3.5 Billion Won CB Issuance, Total Dilution Risk of 63.96% Remains Unchanged
Alpha AI filed a correction to its major report on convertible bond issuance originally submitted on January 27, 2026, adjusting the schedule due to a change in the payment date for the 18th unsecured private convertible bond.
The amendment shifts the conversion period and early redemption dates by one day, while the key terms including the issuance amount of 3.5 billion won, conversion price of 948 won, and number of shares of 3,691,983 remain unchanged.
Including outstanding CBs from the 15th to 17th series totaling 17.1 billion won, total potential conversion shares amount to 12,861,990, representing 63.96% of the total issued shares of 20,110,080, maintaining severe dilution concerns.
Proceeds from the CB are intended for operating expenses such as wages, with the issuance targeting three individuals: Ko Young-il 1.5 billion won, Ji Eul-ho 1.0 billion won, and Kim Nam-in 1.0 billion won.
[AI Summary]Alpha AI has made an administrative correction to its convertible bond issuance due to a payment date change, but the core terms remain unchanged. The total potential dilution of 63.96% including outstanding CBs continues to pose a serious risk to existing shareholder value.
KOSDAQ Filing Information
[Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)