Conversion Price Adjustment Increases Potential Dilution Risk - 10th Series CB Conversion Price Lowered from 2,949 KRW to 2,065 KRW
The conversion price of the 10th series convertible bond was adjusted downward from 2,949 KRW to 2,065 KRW, a reduction of about 30%, due to a decline in the market price of the underlying stock.
As a result, the number of shares issuable upon conversion of the remaining 3.8 billion won bonds increased from 1,288,572 to 1,840,193 shares, creating potential dilution of approximately 4.95% relative to total outstanding shares.
This adjustment follows a standard periodic conversion price reset mechanism and does not involve new capital raising or a separate board resolution.
[AI Summary]The conversion price adjustment increases potential dilution risk to about 5%, but this is a contractual adjustment of existing convertible bonds with no new capital raising or change in fund usage. Continued stock price declines may trigger further adjustments.