Moadata Delays Receipt of 6.75 Billion Won from Self-Held CB Sale to October, Adjusting Financial Structure Improvement Timeline
Moadata has filed a correction disclosure to postpone the receipt date for the proceeds from its self-held convertible bond sale from July 15, 2026 to October 15, 2026, as originally decided on April 16, 2026.
The sale involves 6.25 billion won face value of the 7th series CB issued in 2023, which Moadata had previously acquired, being sold for 6.75 billion won to Artma Investment Union. The conversion price is 1,853 won per share, and full conversion would issue 3,372,908 shares representing 8.48% of total outstanding shares.
The delay appears to align with the buyer's funding schedule, and no other terms have changed. Artma Investment Union is also scheduled to take up 5 billion won in the 8th series BW with the same new payment date.
[AI Summary]This filing is an administrative correction extending the payment receipt by three months, with no changes to financial terms or dilution risk. While immediate cash inflow is delayed, the purpose of improving financial structure remains. Investors should note the 8.48% potential dilution and limited financial transparency of the buyer, Artma Investment Union.
KOSDAQ Filing Information
[Correction of Description] Report on Major Matters (Decision on Sale of Self-Convertible Bonds)