Conversion Price of 2nd Series CB Adjusted Upward from 1,674 KRW to 1,747 KRW Due to Market Price Increase
NanoSilikhan Advanced Materials has raised the conversion price of its 2nd non-listed convertible bond from 1,674 KRW to 1,747 KRW, an increase of 73 KRW, due to a rise in market price.
This adjustment reduces the number of convertible shares from 3,643,966 to 3,491,700, a decrease of approximately 152,266 shares, slightly alleviating potential dilution.
The adjustment is based on the arithmetic average of the 1-month, 1-week, and latest day weighted average stock prices being higher than the previous conversion price.
[AI Summary]The upward conversion price adjustment is a positive signal for existing shareholders, partially mitigating dilution concerns. However, the remaining 6.1 billion won in convertible bonds still poses a potential dilution of about 10.9% upon full conversion, which investors should consider.