Trinity Air announced in a regulatory filing on the 22nd that it has decided on a third-party allotment capital increase of approximately 80 billion won to secure operating funds and improve its financial structure.

The new shares to be issued through this capital increase amount to 97,560,974 common shares, with an issue price of 820 won per share. The total amount to be raised accordingly is 79,999,986,800 won.

The capital increase will be conducted via a third-party allotment method, with the payment date set for June 30 and the new shares scheduled to be listed on July 21. Additionally, the newly issued shares must be mandatorily held for one year from the listing date.

The third-party allotment recipients are special purpose companies (SPCs) 'Purple Class Jeil Cha' and 'EsTrinity Jeil Cha,' with each entity being allocated 48,780,487 shares. The company explained that it pursued this capital increase by allocating new shares to specific parties in order to achieve management objectives such as improving its financial structure, in accordance with the Commercial Act and its articles of incorporation.

The raised funds will be used entirely as operating capital. Specifically, they will be allocated to fuel costs and maintenance expenses, which are essential for airline operations.

Meanwhile, Sono International, the largest shareholder, plans to enter into a two-year Price Return Swap (PRS) contract with the two SPCs targeted in this capital increase, based on the newly issued shares. Any profit or loss arising from the counterparty's sale of shares will be settled with the largest shareholder according to the agreed terms, and Sono International intends to provide a portion of its holdings as collateral to fulfill its related obligations.