Geumyang announced that it has changed the payment date for its 405 billion won third-party allotment rights offering from the original September 30, 2026 to December 31. The company stated the reason for the correction in a regulatory filing as 'correction of the payment date in line with the final stage of administrative procedures related to the investment fund payment.'

■ Overview of the Capital Increase: 27 Million Shares Including Common Stock and RPS at 15,000 Won Per Share

The new shares to be issued through this rights offering total 27 million shares, consisting of 13 million common shares and 14 million redeemable convertible preferred shares (RPS). The issue price is 15,000 won per share for both common and other shares, and the planned proceeds of 405 billion won have been allocated as facility funds.

The third-party allotment recipient is SKAEEB TRADING & INVESTMENT CO., LTD., which will be allocated all 27 million shares. The newly issued shares are subject to a one-year mandatory holding period. The reference stock price is 9,900 won, and the issue price reflects a 51.5% premium.

■ Use of Funds: 250 Billion Won for Secondary Battery Plant Completion and 155 Billion Won for Equipment

Of the facility funds, 250 billion won will be used for the completion of a secondary battery plant, and 155 billion won will be used for 21700 and 4695 secondary battery equipment. According to the filing, the investment period for the secondary battery plant completion is expected to run from August 2, 2025 to January 31, 2027, while that for the secondary battery equipment is expected to run from August 2, 2025 to July 31, 2027.

■ Listing and RPS Redemption Schedules Also Adjusted

With the change in the payment date, the scheduled listing date for the new shares has also been moved from the original October 21, 2026 to January 21, 2027. The RPS redemption period was likewise adjusted from the original October 1, 2026–October 1, 2036 to January 1, 2027–January 1, 2037. The RPS carry no voting rights, and the preferred dividend rate is 2% per year of the initial issue price per share.

■ 'Mass Production of Secondary Batteries After Payment Completion'... Possibility of Schedule Changes Stated

Geumyang stated that it plans to complete the secondary battery plant construction and equipment installation after the investment funds are fully paid in, and then proceed to mass production. However, the company noted that the terms of the new share issuance, including the number of shares issued and the schedule, could change depending on negotiations with the allotment recipient.