NeoImmuneTech Adjusts 1st CB Conversion Price Downward from 11,100 Won to 8,325 Won Reflecting Stock Price Decline, Increasing Potential Dilution
Due to market price decline, the conversion price for the 1st series convertible bond is adjusted from 11,100 KRW to 8,325 KRW, a 25% reduction, which is the minimum allowable level at 75% of the original issue price.
This adjustment increases the number of convertible shares from 900,900 to 1,201,201 shares, adding approximately 300,000 shares and heightening dilution concerns for existing shareholders.
The adjustment is a routine contractual provision effective June 30, 2026, conducted without a separate board resolution.
[AI Summary]The downward conversion price adjustment expands potential dilution for existing shareholders but is a mechanical adjustment under existing terms without new capital raising or strategic changes. Continued stock price weakness could trigger further dilution risk.