BITPLANET Announces 2 Billion Won Convertible Bond Issuance at Premium Conversion Price of 3,615 Won
- Decision to issue 2 billion won of 18th series unregistered unsecured private convertible bonds (conversion price 3,615 won, maturity 2031/06/10, coupon 0%, yield to maturity 2%)
- Proceeds to be used for facility investment (1 billion won for bitcoin mining equipment) and operating funds (1 billion won)
- Conversion would result in 553,250 new shares (2.30% of outstanding), total potential dilution including existing CBs is 10.17%
- Conversion price is at a premium to market (3,615 won vs 1,892 won), with a floor adjustment to 2,892 won (80% of initial)
- Put option exercisable from 18 months after issuance every 3 months; call option exercisable from 1 year after issuance for 23 months monthly up to 30% of the bonds
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KOSDAQ Filing Information
- Filing: [Correction of Description] Report on Major Matters (Decision on Issuance of Convertible Bonds)
- Company: BITPLANET (049470)
- Submission: BITPLANET Co.,Ltd.
- Receipt: 05-21-2026