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FINO INC. Third-party allotment of 22,923,702 redeemable convertible preferred shares at KRW 7,983 each

FINO INC.· Material Event Report
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AI summary · Not investment advice

FINO INC. will issue about 22.92 million redeemable convertible preferred shares at KRW 7,983 each to investment funds, raising KRW 119.9 billion for facilities and KRW 63.1 billion for stakes.

New shares · preferred

22,923,702 shares

Shares outstanding before offering: 86,012,953

Key facts

Issue price per share
KRW 7,983
Offering method
Third-party allotment
Capital expenditure
KRW 119.9 billionProduction equipment at the C&P New Material Technology plant
Acquisition of other securities
KRW 63.1 billionStakes in PT Cakrawala Barokah Energi BARU, PT ABEB and SGP ZH
% of total shares
26.65%
Conversion price per share
KRW 7,983Conversion ratio 100%
Convertible shares
22,923,702 sharesCommon shares
Conversion period
Nov 28, 2027 – Aug 28, 2031
Shares outstanding before offering (common)
86,012,953 shares
Payment date
Nov 27, 2026
Board resolution date
Nov 4, 2026
Lock-up
1-year mandatory holding (resale restriction)All new preferred shares registered for mandatory holding with the Korea Securities Depository

Commentary

AI commentary · Not investment advice

What happened

FINO INC. decided to raise money by selling new shares (a paid-in capital increase). The shares go only to selected investment partnerships and private equity funds, not to existing shareholders (a third-party allotment). The new shares are 22,923,702 redeemable convertible preferred shares (preferred shares that can later be turned into common shares or bought back by the company). Each share is priced at KRW 7,983. The largest allottee is Wonik New Growth 2025 Private Equity Fund, with 3,757,985 shares.

In the company's terms

The issue price is 7.89% above the reference share price of KRW 7,399. Before this issue, the company had 86,012,953 common shares. If all the preferred shares are converted, they would equal 26.65% of total shares. The facility funds of KRW 119.9 billion will go to production equipment at the C&P New Material Technology plant. The KRW 63.1 billion for securities will buy stakes in PT Cakrawala Barokah Energi BARU, PT ABEB and SGP ZH.

What changes for shareholders

Investors pay on 2026.11.27. The new share certificates are due to be delivered on 2026.12.15. The shares are locked up for 1 year, so they cannot be sold during that time. Holders can ask to convert them into common shares from 2027.11.28 to 2031.08.28. The company said the conversion price will not be cut if the share price falls. The company can buy back unconverted shares from 2029.11.28 to 2031.11.28. The preferred dividend rate is 0.1% a year of the issue price. Each preferred share also carries 1 vote.

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