- Surpassing initial KRW 80 billion target funding... Issue price climbs: KRW 6870 → KRW 8400 → KRW 9550
- “Issuance boom” as stock price surges 68% in three months
[by Lee, Young Sung] GI Innovation successfully raised a total of KRW 111.2 billion (approximately USD 75.5 million) through a paid-in capital increase, reflecting the expectations in the capital market by far surpassing its initial target of KRW 80 billion without issuing any real rights shares. The soaring increase in capital was driven by the continuous rise in the issuance price, which surged by 68% following the announcement of the paid-in capital increase.
에볼루션 바카라 사이트 Innovation recently revealed in a public disclosure that it successfully issued 11,644,800 re에볼루션 바카라 사이트stered common shares, raising a total of KRW 111.2784 billion. The capital increase was executed through a general public offering of real rights shares, following allocation to shareholders. The full (100%) payment for the offering was completed on March 27, approximately three months after the board of directors' resolution on December 20, 2024. The new shares are set to be listed on April 10.
The company initially set a target of KRW 80 billion (approximately USD 54.4 million) for its capital increase. However, due to a surge in stock price and strong investment demand, 에볼루션 바카라 사이트 Innovation successfully secured an additional KRW 30 billion beyond its ori에볼루션 바카라 사이트nal goal. This reflects the market's optimistic outlook on the company's pipeline and growth potential. Notably, CSO Jang Myoung-ho, the company’s founder and the largest shareholder, subscribed to 50% of the allocated shares.
On December 2024, when the decision to proceed with the capital increase was first announced, 에볼루션 바카라 사이트 Innovation's stock price (based on the closing price) stood at KRW 9,220. By March 14 of this year, when the final issuance price for the new shares was confirmed, the stock had surged by 68% to KRW 15,530. This increase in stock value was accompanied by a corresponding rise in the issue price. Initially set at KRW 6,870, a 25% discount, the issue price was later finalized at KRW 8,400 for the first issuance and KRW 9,550 for the subsequent offering.
The company intends to allocate the raised funds to several initiatives, including the Phase 1 and 2 clinical trials in Korea and the United States for its immunotherapy candidates '에볼루션 바카라 사이트-101A' and '에볼루션 바카라 사이트-102', the clinical trials for the metabolic anticancer candidate '에볼루션 바카라 사이트-108,' the R&D of new pipeline candidates like 에볼루션 바카라 사이트-305, 에볼루션 바카라 사이트-213, and 에볼루션 바카라 사이트-128, and general operating expenses.