NuinTek's Rights Offering: 5-Year Consecutive Operating Losses, High Financial Risk from Capital Erosion

Rights offering: 7,400,000 common shares (65.48% of existing shares), 1st issue price KRW 997, total KRW 7.38 billion.
Concurrent 5:1 reverse stock split to address capital impairment ratio of 43.48%.
Designated as 'investment cautionary item' due to 5 consecutive years of operating losses (2025: -KRW 7.2 billion).
Debt ratio 383.1%, current ratio 67.5%, interest coverage ratio -4.95x.
Major shareholder (Jang Ki-soo) plans to subscribe 120% of allocation to stabilize control.
Use of proceeds: early redemption of 16th CB KRW 1.8 billion, facility expansion KRW 4.0 billion, working capital KRW 1.578 billion.
Risks: potential delisting/designation as managed item, FSS intensive review, share price decline/dilution.
New shares listing expected on 2026.07.10.

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