Innospace’s convertible preferred shares (CPS) are being converted into common stock at a record pace after the company’s share price drove the conversion price to its contractual minimum. The Financial Supervisory Service’s electronic disclosure system showed requests to convert 555,553 CPS over September 30 and October 1, including a daily record of 396,825 shares on October 1. Innospace reduced the conversion price from 9,778 Korean won to 6,845 Korean won on September 28 under a refixing mechanism (a contractual price adjustment), but the price cannot fall below 70% of its initial level. The conversion would create 925,596 common shares, or 2.6% of issued stock, for listing on October 23. Including remaining convertible CPS, about 3.67 million shares, or 10.7% of common stock, could become sellable. Innospace’s shares closed at 6,470 Korean won on October 2, below the conversion price. Market attention is now focused on the company’s planned November Sebit verification flight and the delayed Hanbit-Nano launch, which the CEO said would be adjusted to the first half of next year.