Blackyak I&C Decides to Issue 15 Billion Won Convertible Bonds, Removes Minimum Conversion Price Adjustment
- Decision to issue 15 billion won in unsecured private convertible bonds (2nd series) (board resolution on May 13, 2026)
- Amendment removes the minimum adjusted conversion price and its basis (no floor), allowing unlimited downward adjustment if stock price falls, increasing dilution risk for existing shareholders
- Maturity 3 years, coupon 0%, yield to maturity 3.0% (compound interest for early redemption)
- Put option: exercisable every 3 months starting 18 months after issuance (redemption price 104.55%–108.50%)
- Call option: exercisable every 3 months starting 12 months after issuance, up to 70% of initial issuance amount (call price 103.00%–104.55%)
- Underwriters: 21 funds including Suseong Asset Management, Oraion Asset Management, Walnut Asset Management, Shinhan Asset Management, IBK Securities, Koramco Asset Management, Intrust Investment Management
- Proceeds: operating funds (specific use not disclosed)
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KOSDAQ Filing Information
- Filing: [Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)
- Company: Black Yak I&C (478560)
- Submission: Black Yak I&C Co., Ltd.
- Receipt: 05-14-2026