Alpha AI Corrects Payment Date for 19th CB, Terms Unchanged... Dilution 71.83% Remains
Alpha AI corrected the payment date for its 19th unsecured private convertible bond issuance worth KRW 5 billion from June 30, 2026 to August 25, 2026, following the board resolution in January 2026.
This amendment is administrative due to the payment date change; key terms such as conversion price of KRW 948, coupon rate of 3%, and maturity rate of 5% remain unchanged.
The total potential convertible shares from existing outstanding CBs and the new issuance reach 14.44 million shares, representing 71.83% of the total outstanding shares of 20.11 million.
All KRW 5 billion proceeds will be used to acquire 2.5 million shares of NGW, a private hydrogen energy company, at an acquisition price of KRW 1,890 per share.
[AI Summary]This correction filing by Alpha AI is a procedural change due to payment delay, leaving the core risks of massive dilution and uncertain capital allocation intact. The potential downward adjustment of conversion price and total dilution of 71.83% continue to pose significant pressure on existing shareholder value.
KOSDAQ Filing Information
[Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)