
Convertible bonds vs bonds with warrants: counting the dilution
Convert a CB and the bond disappears; exercise a BW's warrant and the bond stays. On the same 10 billion won raise, the cash reaching the company and the shares created both diverge.

Convert a CB and the bond disappears; exercise a BW's warrant and the bond stays. On the same 10 billion won raise, the cash reaching the company and the shares created both diverge.