HiSonic Decides to Issue 3.5 Billion KRW Convertible Bonds... "Accelerating Investment in Secondary Battery Component Facilities"

HiSonic announced on the 10th that it has decided to issue convertible bonds (CB) worth 3.5 billion KRW.

The funds secured this time will be used for ▲ 2 billion KRW for secondary battery component equipment investment and ▲ 1.5 billion KRW for operating funds. The payment date is scheduled for the 11th.

According to the company, since the manufacturing period for the secondary battery component equipment is expected to take longer than planned, they decided to issue the CB to start equipment production before the paid-in capital increase payment. They plan to advance the production schedule of the secondary battery component equipment to meet the customer's mass production schedule in June next year.

Recently, HiSonic has been conducting a paid-in capital increase to expand its secondary battery business. Once the capital increase is completed in December this year, the company plans to actively proceed with the acquisition of a local factory in the United States. The company explains that by establishing a secondary battery component production infrastructure in the U.S., it can quickly expand its global customer base beyond the global battery companies it is currently collaborating with.

HiSonic is exploring business collaboration opportunities with various global battery companies while investing in production facilities. Following the prismatic secondary batteries, the company is expanding its secondary battery component business portfolio to cylindrical types and is actively discussing business collaborations on automotive prismatic and cylindrical projects with existing customers.