Aptamer Sciences Proposes Name Change to CHOOLIP & SCIENCES and 2:1 Reverse Stock Split, Pivoting to Commerce Amid Governance Weakness

The company plans to change its name to CHOOLIP & SCIENCES and add goods, character products, and e-commerce to its business purposes, signaling a pivot from biotech to commerce.
A 2:1 reverse stock split will reduce common shares from 61,039,242 to 30,519,621, doubling the par value from 500 KRW to 1,000 KRW. This is a capital-neutral consolidation.
Independent director Noh Jae-seok attended only 16% of board meetings. Recent capital raises including CBs and third-party allotments total over 20 billion KRW, while a 1.438 billion KRW loan was extended to subsidiary CHOOLIP Inc., raising concerns over capital allocation.
No shareholder return measures such as buybacks or dividends are disclosed.
[AI Summary]Aptamer Sciences is attempting a strategic pivot to commerce through a name change and reverse stock split, but frequent capital raises and poor board oversight undermine investor confidence. The lack of synergy with existing biotech operations suggests a negative outlook for shareholder value.