Graphy raises $32M via convertible bond and share issue
What's the deal? South Korea's Graphy has raised US$40.5M through a mix of a convertible bond and a third-party share issue, the company disclosed on July 13. It plans to use the proceeds for operating capital and to acquire securities in other companies.
The details: The financing pairs a US$40.5M sixth private convertible bond with a US$10.1M third-party allotment. The bond carries a conversion price of US$15.4 per share, which would issue 2,636,750 shares — 19.09% of Graphy's total outstanding stock.
The share issue takes the form of 660,541 non-voting convertible preferred shares, priced at US$15.4 each, matching the bond's conversion price.
Why now? The raise lands as a quick re-raise, with Graphy returning to markets to top up its balance sheet shortly after prior financing.
The signal: Convertible bonds paired with private placements remain a familiar route for listed Korean small-caps to secure capital without immediate dilution. For Graphy, the structure keeps voting control intact while funding both day-to-day operations and outside investments — a bet on expansion over caution.
Read more: Edaily
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