Humax has finalized three decisions at once to secure operating funds and streamline its subsidiary structure: the issuance of 5 billion won in convertible bonds (CB), the acquisition of Alt Mobility shares worth 10.75 billion won via debt-to-equity conversion, and the absorption merger of its wholly-owned subsidiary Nuvix. Humax announced these details in a regulatory filing on the 22nd.

■ Issuance of 5 Billion Won in 27th Round of Privately Placed Convertible Bonds

To raise operating funds, Humax will issue 5 billion won in its 27th round of unregistered, warrant-attached, unguaranteed privately placed convertible bonds. The coupon rate is 0%, the maturity interest rate is 3.5%, and the maturity date is October 30, 2029. Bonds held to maturity will be repaid in a lump sum at 111.0203% of the electronically registered amount.

The conversion price is 5,320 won per share. Upon conversion, 939,849 common shares will be issued, equivalent to 12.49% of total shares outstanding. The conversion claim period runs from October 30, 2027 to September 30, 2029. The minimum adjusted price in the event of a market price decline is 5,000 won, and bondholders are granted early redemption rights while the issuing company and others are granted put option rights. The bond payment date is October 30, 2026.

■ Acquisition of 2.15 Million Alt Mobility Shares for 10.75 Billion Won via Debt-to-Equity Conversion

Humax has decided to acquire 2.15 million shares of its affiliate Alt Mobility for 10.75 billion won. The acquisition amount equals 11.18% of the company's equity capital based on its year-end 2025 consolidated financial statements.

The acquisition will proceed through participation in Alt Mobility's third-party allotment rights offering. It is a debt-to-equity conversion method in which Humax acquires common shares by offsetting existing loan receivables it holds, and the company stated that the acquisition aims to recover the loan claims through conversion into equity.

Once completed, Humax's holdings in Alt Mobility will total 2,404,519 shares, or a 58.33% stake. The scheduled acquisition date is October 31, 2026, subject to change depending on consultations with relevant institutions and progress.

■ Absorption Merger of Wholly-Owned Subsidiary Nuvix at a 1-to-0 Merger Ratio

Humax also disclosed that it decided that day to absorb its wholly-owned subsidiary Nuvix. The merger will proceed as a small-scale merger, with Humax surviving and Nuvix being dissolved and extinguished, and the merger date is scheduled for December 29, 2026.

As Humax holds 100% of Nuvix's shares, the merger ratio was set at 1 to 0. The merger will be carried out without issuing new shares, so Humax's capital and largest shareholders will remain unchanged after the merger. The company aims to achieve efficient management of human and material resources and improve operational efficiency through the merger.

Nuvix's main business is building and developing a platform for responding to ESG regulations. As of the end of 2025, its total assets stood at 81.78 million won and its total liabilities at 1.65 billion won.

The merger contract is scheduled to be signed on October 28, and the creditor objection period runs from November 27 to December 28. The merger will proceed under the small-scale merger procedure, in which board approval replaces shareholder meeting approval, and no appraisal rights will be granted. However, if a shareholder holding 20% or more of Humax's total issued shares notifies the company in writing of opposition to the merger within the designated period, the small-scale merger procedure cannot be used.

Humax stated that the merger schedule may change depending on consultations with relevant institutions and approval processes.