Xecure Raises Conversion Price for Remaining CBs Worth 6.4 Billion Won... Number of Potential Convertible Shares Decreases

The conversion price for Xecure's remaining unconverted convertible bonds (CB) worth 6.4 billion won has been adjusted upward, resulting in a significant decrease in the number of shares that can be converted.

According to Xecure on July 7, following this adjustment, the number of shares convertible from these CBs has decreased from approximately 5,355,648 to around 3,420,630. The company expects that the reduction in the potential number of convertible shares will help ease concerns in the market regarding overhang (potential selling pressure).

For convertible bonds, as the conversion price rises, the number of shares that can be converted for the same face value decreases. Accordingly, the company explained that this increase in conversion price will reduce the potential dilution risk for existing shareholders.

A Xecure official stated, "We are treating the stabilization of our financial structure and the enhancement of shareholder value as key management priorities, and will focus on strengthening our core business competitiveness and improving performance," adding, "We will continue to communicate with the market regarding major financial and capital policies going forward."

This content was produced with the assistance of AI translation services.