Mirae Industries Sells 9 Billion KRW of Dynamic Design's 9th Convertible Bonds...Recovers Investment Funds

Mirae Industries, a company specializing in semiconductor back-end processing, announced on May 2 that it has enhanced its financial soundness by recovering its investment through Mirae SPC's sale of 9 billion KRW worth of the 10 billion KRW 9th convertible bonds (CB) of Dynamic Design to a third party.

A representative from Mirae Industries stated, "The 9th convertible bonds of Dynamic Design were issued on September 22, 2023, and the sale to a third party was a measure to secure Mirae Industries' financial stability and to continue pursuing new business initiatives that form the foundation for the company's ongoing growth." The representative added, "We will continue to maintain stable and sustainable management through prudent investment strategies in the future."

The representative also said, "Nexturn Bioscience, our largest shareholder, will have all of its shares, which were acquired through the exercise of conversion rights for the 8th and 9th convertible bonds totaling 8.1 billion KRW, subject to the same capital reduction." The representative continued, "Through this, as the largest shareholder, we aim to strengthen management control and responsible management, and we will continue to strive to enhance shareholder value."

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