According to the Financial Supervisory Service’s electronic disclosure system on the 31st, L&C BIO announced that it held a board meeting that day and decided to conduct a rights offering followed by a public offering of unsubscribed shares, issuing 3.7 million common shares. The planned issue price is 38,000 won per share, with the total expected proceeds amounting to approximately 140.6 billion won.
Of the funds raised, the largest portion—105 billion won—will be allocated to facility investments. This amounts to approximately 75% of the total proceeds. The company plans to use these funds to build a global smart factory on a site of approximately 1,300 pyeong it owns in Dongtan, Gyeonggi Province. The remaining funds will be used for working capital (20.6 billion won) and debt repayment (15 billion won).
The size of the new share issuance corresponds to 13.72% of the total outstanding shares of 26,969,704. The Employee Stock Ownership Plan (ESOP) will be given priority allocation of 74,000 shares, representing 2% of the total new shares. The remaining 3,626,000 shares will be allocated to existing shareholders. In this case, existing shareholders will receive approximately 0.1356 new shares for each existing share held, excluding treasury stock.
The record date for the new share allocation is September 4. Subscription by existing shareholders will take place on October 14–15. If any unsubscribed shares remain after the existing shareholders’ subscription and any oversubscription, a public offering will be conducted for two days starting October 19. The payment date is October 22, and the new shares are scheduled to be listed on November 3. The lead underwriter is EUGENE INVESTMENT & SECURITIES.
Following the paid-in capital increase, L&C BIO will also conduct a 1-for-1 bonus stock issuance, allocating one new share for every one common share held. Since the right to participate in the bonus stock issuance is granted for the new shares issued through the paid-in capital increase, shareholders who received new shares through the paid-in capital increase will also be allocated one bonus share for every share they hold without any additional procedures.
The record date for the bonus stock allocation is October 27, and the new shares are scheduled to be listed on November 11. Once both the paid-in capital increase and the bonus stock issuance are completed, the total number of issued shares, including treasury stock, will increase from the current 26,969,704 shares to 61,107,168 shares.
