EXICURE HITRON Sells 1.36 Million Exicure Inc. Shares for 9.1 Billion Won to Secure Liquidity, Partial Contract Cancellation Raises Counterparty Risk
EXICURE HITRON has decided to transfer 1,364,304 shares of its US affiliate Exicure Inc. for 9.1 billion KRW.
The purpose is to raise funds and secure liquidity through the sale of held shares, retaining a 32.67% stake after the transaction.
Some buyer contracts have been partially cancelled, and if the balance is not paid, the company may enforce pledges or take legal action.
An external valuation by Han Young Accounting Corporation confirmed the transfer price of 6,675 KRW per share as fair.
No dilution to existing shareholders as no new shares are issued, and the sale improves the company's cash position.
[AI Summary]EXICURE HITRON secures 9.1 billion KRW in cash by selling affiliate shares, reducing liquidity risk, but partial contract cancellation introduces counterparty risk. The sale price is deemed fair by an external appraiser, and there is no dilution to existing shareholder value.
KOSPI Filing Information
[Correction of Description] Report on Major Matters (Decision on Transfer of Stocks and Investment Securities of Other Corporations)