Paratech Amends Terms for 10 Billion Won Convertible Bond Issuance, Conversion Price Set at 949 Won and Payment Date Moved to August 18
On July 20, 2026, Paratech filed an amendment to the terms of its 4th unregistered private convertible bond issuance, following consultations with the bondholder.
The payment date was postponed from July 20, 2026, to August 18, 2026, and the conversion price was raised from 937 won to 949 won. Consequently, the number of shares issuable upon conversion decreased from 10,672,358 to 10,537,407, lowering the dilution ratio from 16.96% to 16.78%.
The minimum adjusted conversion price was also raised from 656 won to 665 won, and the maturity date was extended to August 18, 2029. The total issuance amount of 10 billion won, the coupon rate of 3% per annum, and the put option terms remain unchanged.
Of the 10 billion won raised, 7 billion won is intended for acquisition of securities of other corporations with the counterparty still undetermined, while 3 billion won is for working capital.
The bondholder is Enhance Investment Association, whose largest investor is Heyman with a 50% stake. Conversion may result in a change of the controlling shareholder.
[AI Summary]This amendment does not materially alter the overall fundraising scale or core terms, limiting its immediate market impact. The slight increase in conversion price modestly reduces dilution pressure compared to the previous terms, but a significant 16.78% dilution remains, and the vague use of funds for unspecified securities acquisition warrants cautious investment consideration.
KOSDAQ Filing Information
[Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)