Decision to Issue 12.5 Billion Won 6th Series Convertible Bond - High Conversion Price but Potential Dilution of 64.31%
- Decision to issue 12.5 billion won in 6th series convertible bonds (conversion price 7,392 won, high relative to current price of 589 won); immediate dilution limited but future downward adjustment possible
- Total potential dilution from outstanding CBs (3rd, 4th, and new 6th series) amounts to 3,053,269 shares, representing 64.31% of current outstanding shares (4,747,965)
- All proceeds used for acquisition of other securities: 10 billion won in Arc Association No.1 partnership interest, 2.5 billion won in BOX Co., Ltd. shares
- Bondholders granted put option, issuer granted call option (up to 50% of face value) with mandatory holding requirement
- Correction: interest payment dates and early redemption payment location changed to Hana Bank Sinsa-dong Branch
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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: 05-20-2026