Sphere, which has transformed into a space-related stock, has decided to privately issue convertible bonds worth 25 billion won. The target is 100 Ruta. It evokes the image of '100 Rutas' in baseball.
100 Ruta is a management consulting firm established in October last year, with its headquarters located in Jangdae-dong, Daejeon.
Sphere has seen its stock price rise by 271% over the past year as it has transformed into a supplier for SpaceX.
Its market capitalization skyrocketed from 80.6 billion won to 685.1 billion won, an increase of 8.5 times.
On the first day of the new year, it soared to the upper limit amid a rally of space-related stocks.
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