KRW 2.53B Conversion of 3rd CB Issued 1.04M New Shares (2.53% Dilution)

MDS Tech received conversion request on 2026-05-21 for KRW 2.53B of its 3rd series unsecured private CB (conversion price: 2,435 won), resulting in 1,038,150 new shares (2.53% of total outstanding) to be listed on 2026-06-04
After this conversion, remaining unconverted CB balance is KRW 6.86B, which can be converted into up to 2,816,468 additional shares (approx. 6.86% of current outstanding)
Conversion price (2,435 won) is 32.2% below current market price (3,590 won), creating favorable conditions for bondholders to exercise, raising ongoing dilution concerns

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