On the 27th, L&C BIO announced that approximately 24.5 billion won worth of convertible bonds (CB) will be converted into shares.
According to the Financial Supervisory Service electronic disclosure system on the 27th, L&C BIO is expected to list 1,022,421 newly issued shares as the conversion rights for about 24.5 billion won in CBs are exercised.
This exercise of conversion rights applies to the second series of non-guaranteed private convertible bonds, which will mature in June, with the number of newly listed shares accounting for 4.33% of the total number of issued shares. The conversion price is 23,940 won per share, and the listing date is set for June 12.
Earlier, L&C BIO announced that the conversion rights for the second series of CBs worth 10 billion won were exercised the previous day. This leaves approximately 1.06 million shares, with a conversion value amounting to 25.5 billion won.