Solux Decides to Issue 25 Billion Won Convertible Bonds with Put/Call Options and Collateral, Potential Change of Largest Shareholder

Convertible bond face amount: approximately 25 billion won (inferred from collateral limit of 32.5 billion won at 130%).
Maturity date: not specified, but early redemption possible after one year.
Coupon rate and yield to maturity: not stated in the table.
Put option: exercisable every three months starting one year after issuance, with yield to put of 8.0% compounded quarterly.
Call option: exercisable by the issuer against the underwriter (In the Money Co.), with yield to call of 8.0% compounded quarterly.
Call option acquisition cost: 500 million won (4% of 12.5 billion won) paid to underwriter in four installments.
Collateral: first-priority mortgage on properties in Gangseo-gu, Wonju, and Gongju, with a priority beneficiary limit of 32.5 billion won.
Conversion price: not specified in the table.
Shares to be issued upon conversion: 7,240,081 shares (12.80% of total outstanding shares).
Potential change of largest shareholder: full conversion may result in the underwriter (In the Money Co.) becoming the largest shareholder.

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