APTN completes issuance of 10 billion KRW 11th series CB – Significant dilution risk for existing shareholders

The 11th series unsecured private placement convertible bonds worth 10 billion KRW were fully issued with a payment date of July 24, 2026.
The issuance amount represents 16.5% of the market cap of 60.6 billion KRW, potentially adding approximately 3.24 million new shares upon conversion at 3,085 KRW per share, raising concerns of shareholder dilution.
The purpose of the funds is not disclosed in this filing; investors should refer to the prior board resolution disclosure for details.
[AI Summary]This CB issuance is large relative to market cap, making dilution inevitable upon conversion. The unclear use of proceeds may negatively impact short-term stock price.