Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Aerospace files a corrected report regarding its investment in Convertible Notes issued by U.S.-based OVERAIR, INC. The company confirmed that it did not exercise conversion rights due to unmet conversion conditions, and that the principal was not repaid upon its maturity on June 16, 2024.
📊 Key Disclosure Contents & Financial Figures
- Disclosure Title: Decision on Acquisition of Equity-Related Bonds (Voluntary Disclosure) (Correction)
- Correction Date: June 17, 2024
- Target Document: Decision on Acquisition of Equity-Related Bonds (Voluntary Disclosure) (Initial Filing Date: June 14, 2022)
- Reason for Correction: Confirmation of investment result following the maturity of Convertible Notes
- Corrected Item (Other Important Matters for Investment Decisions):
- Before Correction: Details regarding convertible bonds will be disclosed once finalized based on the issuer’s additional investment results.
- After Correction: The company did not exercise conversion rights due to non-fulfillment of stock conversion conditions, and although the notes matured on June 16, 2024, repayment was not made.
- Overview of Acquired Bonds (Based on Initial Filing):
- Type of Bond: Convertible Note
- Issuer: OVERAIR, INC. (U.S., UAM aircraft development and manufacturing)
- Total Face Value & Acquisition Amount: KRW 83,590,000,000 (USD 65,000,000)
- Ratio to Total Equity: 2.13% (Total Equity as of end of 2021: KRW 3,931,558,526,792)
- Purpose of Acquisition: Strengthening strategic partnership related to powertrain business
- Acquisition Method: Cash acquisition
- Maturity Date: 24 months from payment date (June 16, 2024)
- Board Decision Date: June 14, 2022
- Other Important Matters:
- Applied exchange rate: Seoul Money Brokerage basic rate on June 14, 2022 (1,286.00 KRW/USD)
- Conducted jointly with subsidiary Hanwha Systems Co., Ltd. (Combined total of USD 115,000,000, including Hanwha Systems’ USD 50,000,000)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Subsequent Progress and Financial Impact from Non-Repayment
The company reported that for the Convertible Notes of OVERAIR, conversion rights were not exercised due to unmet conditions, and principal repayment was not completed upon maturity on June 16, 2024. Tracking subsequent developments, including any future repayment status, as well as how this matter is reflected in the financial statements, is important to understand the company’s financial status. Detailed progress can be verified in subsequent official disclosures and periodic reports.
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Source: This content was newly generated and structured based on official data submitted to the Financial Supervisory Service DART.
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