The company said the Exchange Offer for Class B-1 common stock expired on May 3, 2024. Participating holders could exchange their Class B-1 common stock for Class B-2 common stock, Class C common stock and, where applicable, cash in lieu of fractional shares.

1. 01

   The company said the Exchange Offer for Class B-1 common stock expired on May 3, 2024. Participating holders could exchange their Class B-1 common stock for Class B-2 common stock, Class C common stock and, where applicable, cash in lieu of fractional shares.

2. 02

   The company said it accepted 240,677,470 shares of Class B-1 common stock tendered in the Exchange Offer on May 6, 2024. The accepted shares represent 98% of outstanding Class B-1 shares, and the company said settlement of the exchange will not be delayed and will be made promptly.

3. 03

   The company said that, based on the number of tendered shares, it will issue 120,338,683 shares of Class B-2 common stock and 47,759,832 shares of Class C common stock in the exchange.

4. 04

   The company said cash in lieu of fractional shares will be calculated based on the reported closing price of Class A common stock on the NYSE as of the expiration date, which was $268.49. It said the applicable conversion rate as of the expiration date was 1.5875 shares of Class A common stock for each Class B-1 share and 4 shares of Class A common stock for each Class C share.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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