Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Hanwha Systems disclosed through a correction filing that its convertible notes (approx. KRW 64.3B / $50,000,000) issued by U.S.-based OVERAIR, INC. reached maturity on June 16, 2024, but neither conversion rights execution nor principal redemption occurred.
📊 [Key Disclosure Details & Financial Metrics]
- Disclosure Type: Decision on Acquisition of Equity-Related Debt Securities (Correction Report)
- Date of Original Disclosure: June 14, 2022
- Reason for Correction: Maturity of Convertible Note following OVERAIR Series B investment
- Key Correction Point:
- Before: Stated that detailed terms would be announced upon determination following additional investment rounds.
- After: Clarified that the Convertible Note reached maturity on June 16, 2024, but neither conversion rights were exercised nor maturity redemption was made.
- Details of Acquired Securities:
- Issuing Corporation: OVERAIR, INC. (U.S., UAM air vehicle development and manufacturing)
- Security Type: 2nd Series Convertible Note
- Face Value & Acquisition Amount: KRW 64,300,000,000 ($50,000,000 / exchange rate applied: 1,286.00 KRW/USD as of June 14, 2022)
- Ratio to Equity: 2.87% (Based on year-end 2021 equity)
- Purpose of Acquisition: Securing the Butterfly UAM air vehicle platform through OVERAIR Series B investment
- Terms of Bond: Coupon rate 3%, maturity 24 months from payment date
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Handling Method and Follow-up Progress for Unredeemed and Unconverted Convertible Notes
This correction disclosure clarifies that neither conversion nor principal redemption occurred upon the maturity of the Convertible Note. Monitoring how the handling method for this Convertible Note and the subsequent outcome are finalized is important for understanding the progress of this investment. Relevant details and follow-up resolutions can be verified through future periodic filings (quarterly, half-year, and annual reports) and subsequent regulatory disclosures.
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Source: This content was newly structured and generated based on official submission data from the Financial Supervisory Service’s DART system.
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