Tiger Electric Decides to Issue Convertible Bonds to Institutional Investors

Tiger Electric resolved on May 12, 2026 to issue convertible bonds (CB) to institutional investors
Remaining issuance limit per articles: approx. KRW 111.5 billion (1,894,287 shares, 30% of outstanding 6,314,290 shares, times conversion price)
Put option: holders may redeem at 100% of face value every 3 months starting 30 months after issuance (Nov 20, 2028)
Call option: issuer may purchase up to 20% of each holder's bonds at a premium of 101%-102.5%, monthly from 12 months to 30 months after issuance (May 20, 2027 to Nov 20, 2028)
Investors: 7 funds including Timefolio Asset Management, Shinhan Asset Management, Rhinos Asset Management
Specific terms (conversion price, coupon rate, maturity rate) not disclosed

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