[Public Notice+] Cellmat Therapeutics, Early Payment of Paid-in Capital Increase... "Securing Financial Stability"

[Asia Economy Reporter Hyunseok Yoo] Cellmat Therapeutics announced on the 1st that the 5 billion KRW from the third-party allotment paid-in capital increase was paid early on the 30th. The original payment date was the 31st of this month.

The new shares to be issued upon payment of the capital increase amount to 1,100,528 shares, with an issue price of 4,505 KRW per share. This capital increase was promoted to acquire stocks of other companies and secure operating funds, but the issuance scale was reduced considering future convertible bond issuance, etc.

A company official explained, "Through the early payment of this capital increase, we secured financial stability and resolved concerns about capital erosion," adding, "Although the amount falls short of the targeted 13 billion KRW, it reflects the strong determination of the new management to promote new businesses and secure operating funds." He continued, "In the second half of the year, we aim to turn operating profit positive by focusing on additional share acquisition of the radiological embolization specialist company ‘BEBIG’ and the development of COVID-19 treatments using 'Neovir'."