KOSDAQ-listed JK Synapse said on the 21st that the largest shareholder is set to change to Hyulim Robot, a robot specialist. JK Synapse is conducting a third-party paid-in capital increase of 3 billion won for Hyulim Robot.
The issue price for the new shares in this paid-in capital increase is 968 won per share, and the total number of common shares to be issued is 3,099,173. Once payment is completed on the 28th, the number of shares outstanding of JK Synapse will increase from 11,260,098 to 14,359,271.
When the paid-in capital increase is completed, Hyulim Robot will secure 21.58% equity in JK Synapse to become the largest shareholder. The stake of the current largest shareholder, MH Tech, will decline from 13.59% to 10.66%.
JK Synapse plans to use the proceeds from this paid-in capital increase to improve its financial structure. The company said market concerns over some unconverted convertible bonds (CBs) are also expected to ease. In addition, the capital increase was conveyed as a decision made with consideration for meeting KOSDAQ market capitalization requirements.