GIGM converts $12.37M in Aeolus notes into Series C preferred shares

GigaMedia Limited (NASDAQ: GIGM) announced that effective June 16, 2026, it entered into agreements with Aeolus Robotics Corporation to subscribe to 719.09 million Aeolus Series C Preferred Shares through the conversion and settlement of convertible promissory notes purchased between September 2023 and February 2026, with total principal amounts of $12.37 million.

The subscription consideration is equivalent to an average of approximately $0.0176 per share.

Following the transaction, GigaMedia holds 719.83 million Aeolus preferred shares, with its ownership of Aeolus voting rights increasing to approximately 33.35%. As a result, the investment will be accounted for under the equity method, whereas it was previously classified as available-for-sale and reported at fair value in GigaMedia's financial statements.

Aeolus Robotics Corporation is a private company incorporated in the Cayman Islands, with subsidiaries and offices in East Asia, Europe, and the U.S. The company is engaged in developing AI-enabled service robots for elderly care, night shift patrol, and UVC disinfection applications.

For the year ended December 31, 2025, Aeolus reported an unaudited net loss of $8.98 million and total assets of $4.38 million.

GigaMedia stated it may enter into additional transactions involving Aeolus securities from time to time in accordance with applicable laws.

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