Samsung SDI confirms first issue price of paid capital increase at 146,200 won per share

Samsung SDI announced on the 9th that it has set the first issue price for its paid-in capital increase at 146,200 won (US$143.6 million) per share, for a total offering of 1.7282 trillion won (US$1.698 billion).
The primary issue price was 13.59% lower than the planned issue price of 169,200 won (approximately 16,620 yen) set at the board of directors meeting on the 14th of last month, reflecting the decline in stock prices.
The total amount of the offering was also reduced by 270 billion won (US$253 million) from the initially planned 2 trillion won (US$1.7 billion).
The final price was decided on May 16th, three trading days before the subscription date for the former shareholders.
After the subscription and public offering, the new shares are scheduled to be listed on June 13th. After the shareholder distribution, the number of shares in this paid capital increase, which will be carried out through a public offering of actual shares, will be 11,821,000 shares, and the capital increase ratio will be
The use of funds based on the first issue price is 1.3741 trillion won (approximately 134.8 billion yen) for the acquisition of securities of other corporations, 354.1 billion won (approximately 34.7 billion yen) for facility funds, and 1.27 trillion won (approximately 1.27 billion yen) for issuance and other related purposes.
Samsung SDI plans to use the funds raised through the capital increase to invest in a joint venture with General Motors (GM) and to expand production capacity at its Hungarian factory in Europe.
The company plans to use the funds to expand its capacity and invest in facilities for domestic solid-state battery production lines.