LSK iRobot Redeems Total 3.15 Billion Won of 8th CB... Potential Convertible Shares Reduced by About 1.14 Million

LSK iRobot is working to reduce potential stock dilution by conducting additional redemptions of its convertible bonds (CB). This year, the company has already fully redeemed its 11th CB issue, and by further repaying the 8th CB, it is strengthening its financial stability while accelerating the expansion of new businesses in artificial intelligence (AI) and robot vision.

On September 15, LSK iRobot, a specialist in AI and robot vision, announced that it had made an additional early redemption of 1.5 billion won of its privately placed 8th CB.

In July, LSK iRobot completed the first redemption of 1.65 billion won out of a total of 6 billion won for the 8th CB, and has now made an additional repayment of 1.5 billion won. As a result, the cumulative redemption amount has increased to 3.15 billion won, reducing the outstanding unconverted bond amount from 4.35 billion won to 2.85 billion won.

This CB redemption has also reduced the volume available for future stock conversion. Applying the adjusted conversion price of 2,764 won per share (reflecting the stock consolidation) to this additional redemption, the potential convertible amount is reduced by approximately 542,000 shares. Including the previous 1.65 billion won redemption, the total potential dilution reduced by the 8th CB repayments amounts to about 1.14 million shares.

LSK iRobot had previously fully redeemed 3 billion won from its 11th CB issue. The company explained that by continually redeeming the 8th CB, it is reducing the dilution risk for existing shareholders that would result from stock conversion.

This round of CB repayment was made possible with cash secured through the sale of non-core assets. By using internal funds to redeem the CB, the company aims to enhance financial stability and increase shareholder value.

While reinforcing its financial foundation, LSK iRobot is also focusing on new businesses centered on AI and robot vision technologies. Recently, the company unveiled 'Chaeyoon,' an AI virtual intellectual property (IP) developed by its subsidiary OneTouchAI, using generative AI and visual intelligence technology, thereby officially launching its AI content business.

LSK iRobot plans to expand its business portfolio and strengthen its competitiveness with new initiatives based on its AI and robot vision technologies.

An LSK iRobot representative stated, "By continuously redeeming CBs, we are reducing potential dilution and strengthening our financial stability. With a solid financial base and our AI and robot vision technologies, we will fully commit to expanding new businesses and enhancing corporate value."

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