Hurim Networks "Unveils Advancement Strategy for Company Growth Through Selection and Focus"

Hurim Networks announced on the 5th that the subscription of the 5th series convertible bonds worth 40 billion KRW, the first step in the advanced strategy established for company growth, has been completed.

The conversion price of the 5th series convertible bonds is 10,641 KRW, and the number of convertible shares is 3,759,044. The conversion period is from August 2, 2025, to July 2, 2027. The funds secured through the convertible bonds will be used for existing business operating funds and new business capital, focusing on new business expansion and company growth.

Hurim Networks has proposed agenda items such as stock split approval and partial amendment of the articles of incorporation at the extraordinary general meeting of shareholders to be held on the 16th to enhance expertise in existing businesses, diversify business, and activate stock trading.

If the stock split approval agenda submitted to the shareholders' meeting is passed, the existing 2,487,106 shares with a par value of 500 KRW per share will increase to 12,435,530 shares with a par value of 100 KRW per share. Stock trading will be temporarily suspended from the 29th until September 19th for the listing of new stock certificates.

A Hurim Networks official said, “We are pleased that the issuance of convertible bonds, one of the decisions made through selection and concentration for the company's growth, has been smoothly completed, marking a successful first step in the company's growth advancement strategy.” He added, “We hope that the approval of the agenda items at the extraordinary general meeting of shareholders will lead to business diversification and stock split, increasing the number of circulating shares and activating trading, allowing Hurim Networks to get closer to shareholders and investors.”