Aton Issues 16 Billion KRW Worth of CB and BW to Secure Future Growth Engines
[Asia Economy Reporter Hyunseok Yoo] Fintech security company Aton announced on the 19th that it has decided to issue convertible bonds (CB) and bonds with warrants (BW) totaling 16 billion KRW to institutional investors and others to acquire investment stakes in new businesses.
The bonds have a coupon rate and maturity interest rate of 0.0%, and will be issued in two parts: 10 billion KRW in CB and 6 billion KRW in BW. This bond issuance marks Aton's first fundraising since its initial public offering (IPO) in 2019. The company explained that this is a proactive capital raising to secure future growth engines such as entering new businesses. As of the first quarter of this year, Aton's debt ratio is relatively low at 19%, and its cash equivalents amount to approximately 35 billion KRW.
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The conversion price (exercise price) is set at 27,600 KRW per share, and if all bonds are converted into shares, 579,709 new shares will be issued, accounting for 13% of the total number of shares. The conversion (exercise) request period for the bonds is from July 22, 2022, to June 21, 2026. The maturity date is July 21, 2026.
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