Bitgwajeonja will early acquire its 80 billion won 17th convertible bonds (CB) before maturity. The company will use the installment funds from its 18th convertible bonds as a funding source to purchase the bonds over-the-counter.

According to Bitgwajeonja on the 5th, the company disclosed that it passed a board resolution to early acquire the '17th bearer-type bond-with-warrant unsecured private convertible bonds.' The acquisition target is the entire face value of 8 billion won, with the actual acquisition amount totaling 8,100,243,287 won, including principal and interest. The amount is scheduled to be paid on August 5, 2026.

The included interest was calculated by applying the maturity-guaranteed yield rate (6.50% annual compound interest per quarter) from the issuance date through consultation with the bondholder. The seller is Balo Savings Bank, which was confirmed to have no special relationship with the company or its largest shareholder. Following this early acquisition, the outstanding face value of the convertible bonds will become zero.

Meanwhile, the conversion price of the convertible bonds being acquired is 5,769 won per share. In the event of a conversion request, 1,386,722 new common shares could be issued, which corresponds to 1.22% of the total number of shares outstanding as of the acquisition date. The conversion request period runs from May 26, 2027, to April 26, 2029.

The company finalized the decision to acquire the bonds early before maturity through consultation with the bondholder. Following the acquisition, the company plans to determine whether to resell or extinguish the convertible bonds through comprehensive management judgment and an additional board resolution. No specific treatment plan has been determined at this time.