WiderPlanet, Strong Financial Structure Improvement Raises Expectations for Future Growth
Wider Planet Exercises Convertible Bonds and Warrants Worth 2.6 Billion Won
Wider Planet announced on the 19th that it will exercise convertible bonds and stock acquisition rights totaling 2.6 billion KRW.
The company plans to exercise 1.4 billion KRW worth of bonds with stock acquisition rights, issuing 71,428 new shares through this. The price per share is 19,600 KRW, and the exercise of these stock acquisition rights is scheduled to be listed on January 4, 2024.
Additionally, Wider Planet stated that it will also exercise convertible bonds worth 1.19 billion KRW. The conversion price is the same at 19,600 KRW, and the listing date is the same as that of the stock acquisition rights exercise shares.
The exercise of these convertible bonds and stock acquisition rights is expected to significantly strengthen the company's financial structure.
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Through a paid-in capital increase involving Artist Company director Lee Jung-jae and WYSIWYG Studios, approximately 19 billion KRW in cash assets will be combined with the existing cash holdings of 27.6 billion KRW, securing a total of 46.6 billion KRW in cash. Total assets are expected to reach approximately 61.3 billion KRW.
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