FNC Entertainment Corrects CB Issuance Terms, Massive Dilution Risk
- FNC Entertainment files correction for KRW 12 billion convertible bond issuance (conversion price KRW 4,638, shares 2,587,322 for new issue).
- Combined with existing outstanding CBs (2nd series KRW 343 million, 3rd series KRW 20 billion), total convertible shares reach 8,277,533, representing 53.78% of outstanding shares (15,392,808), raising massive dilution concerns.
- Due to changes in issuance conditions (contract revision), key dates (subscription, payment) are undetermined; board meeting rescheduled to May 11, 2026.
- Bondholders granted put option; company granted call option and a call option to sell (accumulated limit of 34.28% of total principal).
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KOSDAQ Filing Information
- Filing: [Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)
- Company: FNC ENTERTAINMENT (173940)
- Submission: FNC ENTERTAINMENT Co., Ltd.
- Receipt: 05-04-2026