KOAS Decides to Partially Redeem JK Synapse Convertible Bonds, Recovering KRW 1.73 Billion

KOAS decided to dispose of part of its JK Synapse 32nd series unsecured private convertible bonds with face value of KRW 5 billion, redeeming KRW 1.73 billion through early redemption as agreed with the issuer.
The disposal amount represents 4.98% of equity capital of KRW 34.7 billion and includes accrued interest.
Previously, KOAS exercised early redemption on the 31st series convertible bonds for KRW 1.03 billion and received full payment.
JK Synapse has reported net losses for three consecutive years with deteriorating financial health, making this early redemption a positive step for KOAS to reduce investment risk.
[AI Summary]KOAS's early redemption of JK Synapse convertible bonds resolves uncertainty, generating cash inflow without stock dilution. This risk reduction and cash acquisition have a moderately positive impact on shareholder value.