RaonSecure Decides to Acquire and Cancel Convertible Bonds Before Maturity

RaonSecure will acquire and cancel convertible bonds (CB) worth 20 billion KRW before maturity.

IT security and authentication platform company RaonSecure (CEO Lee Soon-hyung) announced on the 20th through a public disclosure that it has acquired and canceled all of the 9th series convertible bonds worth 20 billion KRW issued in 2021.

A RaonSecure official stated, "The acquisition and cancellation of these convertible bonds express our commitment to enhancing shareholder value and strengthening responsible management," adding, "Having alleviated concerns about potential overhang volume, we expect this to act as a positive factor for future stock price trends."

RaonSecure has completed full repayment of the convertible bonds based on abundant cash liquidity. The acquisition of these convertible bonds is expected to significantly reduce the debt ratio, greatly improving financial soundness and stability, thereby enhancing corporate value. Furthermore, even after repaying the convertible bonds, the company holds sufficient cash assets and financial products, indicating no liquidity issues in the future.

Following the merger with its subsidiary RaonWhiteHat completed on the 1st of this month and the acquisition and cancellation of the convertible bonds before maturity, RaonSecure plans to strengthen business competitiveness and financial stability, aiming to take a step forward as an IT security and authentication platform company.

The company is actively pursuing new businesses for future growth, including signing a business agreement with cryptography specialist company 'CryptoLab' for the commercialization of quantum-resistant cryptography security solutions. Additionally, after signing a business agreement with 'ISIC' for issuing international student IDs discounted in 114 countries, RaonSecure declared collaboration with healthcare data two-way platform company 'Lemon Healthcare,' accelerating the commercialization of the 'OmniOne Digital ID' business.

Recently, the 'blockchain-based DID technology applied mobile driver’s license' was selected as an excellent TTA standard by the Telecommunications Technology Association (TTA), recognizing its technological excellence. Based on this, RaonSecure plans to further accelerate compatibility activities with the International Organization for Standardization (ISO) international standards for mobile driver’s licenses.

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