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Daeyang Metal (009190) lowered the conversion price on its 25th unregistered, coupon-bearing, unsecured private-placement convertible bond from 1,863 won to 1,857 won, raising potential conversion shares from 1,073,537 to 1,077,005 with 2.0 billion won of unexercised face value outstanding. The adjustment took effect the same day and required no separate board resolution, applying the formula in the CB subscription agreement after new rights-offering shares were issued at 1,184 won versus a 1,480 won market price, against 56,736,275 existing shares and 952,900 newly issued shares. The incremental dilution is small at roughly 3,500 extra shares, so the more relevant signal is the below-market equity issuance itself, which caps near-term upside and invites further ratchet adjustments if the share price keeps sliding; watch subsequent capital-raising disclosures and any additional conversion-price resets.
As a Market signal, watch whether it changes price action, volatility, or flows around 009190.
Original Source: 토큰포스트
This page is market information analysis, not investment advice.
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