KRW 828.1 Billion Rights Offering for Debt Repayment and Absolics Glass Substrate Investment

SKC announced a rights offering of 11,730,000 new shares (30.98% dilution) at a 1st offering price of KRW 70,600, raising approximately KRW 828.1 billion.
Approximately KRW 589.6 billion (71.2%) will be used for Absolics Inc.'s glass substrate customer certification and mass production system establishment (2026~2028).
Approximately KRW 238.5 billion (28.8%) will be used for debt repayment to improve financial structure and investment capacity.
FY2025 consolidated results: revenue KRW 1.84 trillion, operating loss KRW 305 billion, net loss KRW 719.4 billion. Debt ratio 232.75% indicates high financial burden.
Q1 2026 preliminary results: revenue KRW 496.6 billion (QoQ +16%), operating loss KRW 28.7 billion (improved by KRW 78.9 billion), EBITDA turned positive to KRW 10 billion.
Major shareholder SK Inc. will subscribe to its full entitlement (100%) and up to 20% oversubscription. Post-offering, its stake is expected to rise from 40.64% to 43.79%.
Discount rate of 20% applied. 1st offering price KRW 70,600 (based on reference price KRW 93,600). Final price will be the lower of the 1st and 2nd offering prices.
Unused funds will be managed in highly stable financial products (bank deposits, MMF, etc.) until disbursement.

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Filing: [Correction of Description] Securities Registration Statement (Equity Securities)
Company: SKC (011790)
Submission: SKC LTD
Receipt: 04-27-2026
Amended (Refer to related filing)