Blue Industrial Development Corrects Convertible Bond Issuance Decision (Conversion Price Raised to 7,500 Won)
- Blue Industrial Development submitted a correction report for the issuance of 80 billion won in 4th series unregistered, interest-bearing, unsecured private convertible bonds (conversion price raised from 7,392 won to 7,500 won)
- Shares to be issued upon conversion: 1,066,667 shares (22.47% of total outstanding shares of 4,747,965), dilution ratio of 22.47%
- Including remaining convertible shares from existing 3rd series bonds (30 billion won, conversion price 10,164 won, 295,159 shares), total dilution ratio is 28.68% (1,361,826 shares)
- Minimum adjusted conversion price set at 5,250 won (up from 5,174 won)
- Bondholders can exercise early redemption put option quarterly from May 18, 2027 (early redemption rate of 2.00% per annum compounded)
- Issuer can exercise call option 12 times from May 18, 2027 to April 18, 2028 (up to 50% of issue amount, purchase rate of 2.00% per annum compounded)
- This correction reflects recalculation of conversion price and number of shares due to reverse stock split (12:1 effective May 8, 2026)
- Detailed terms of put and call options including exercise periods and payment locations
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KOSPI Filing Information
- Filing: [Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)
- Company: Blue Industrial Development (006740)
- Submission: Blue Industrial Development Co., Ltd.
- Receipt: 05-11-2026