L&F confirms it is considering convertible bond issue to support LFP and ESS expansion

L&F has acknowledged that it is considering issuing convertible bonds as it prepares to expand its lithium iron phosphate, or LFP, business and supply more products for energy storage systems in North America.

The company said on the 8th that the financing is being reviewed as a pre-emptive effort to secure working capital for business expansion. That expansion includes the full-scale launch of its LFP business and increased supplies for the North American ESS market.

The acknowledgement followed a Dong-A Ilbo report about a possible 300 billion won convertible bond issue. L&F is reportedly considering issuing 120 billion won in perpetual convertible bonds and 180 billion won in ordinary convertible bonds in October.

Perpetual convertible bonds can have long maturities or allow the issuer to extend maturity. If they meet certain requirements, they may be recognized as equity for accounting purposes. Like ordinary convertible bonds, they can be converted into shares under specified conditions.

An L&F representative was also quoted in connection with the company’s planned expansion of high-nickel cathode material sales and projections for second-quarter 2026 revenue of 885 billion won and operating profit of 20.8 billion won. The supplied article ends during that statement.

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This financing is being considered as a pre-emptive effort to secure working capital for business expansion, including the full-scale launch of the LFP business and increased supplies to North American ESS customers.