SK Square acquires 14.88% stake in NEXUS via third-party allotment at premium price; significant dilution risk

According to the report, SK Square acquired 12,111,300 common shares of NEXUS at 2,300 KRW per share on June 27, 2026 via a third-party capital increase, resulting in a 14.88% ownership stake.
The acquisition price represents a 35.8% premium over the current market price of 1,693 KRW, which partially mitigates the dilution impact on existing shareholders, but the significant increase in total shares outstanding still leads to unavoidable value dilution.
The specific use of proceeds from the capital increase is not disclosed in the report, but it is presumed to be for strategic investment purposes by SK Square.
[AI Summary]SK Square made a large-scale equity investment equivalent to 25.7% of NEXUS's market capitalization, securing a 14.88% stake. Although the issuance price above market price eases some dilution pressure, the new share issuance still creates downside pressure on per-share value. Investors should monitor SK Square's future strategy and use of funds.