Medicox's Rights Offering General Subscription Competition Rate 626 to 1... "403.1 Billion Won Investment Funds Attracted"

[Asia Economy Reporter Jang Hyowon] MedicoX, a KOSDAQ-listed company, announced on the 10th that its 23 billion KRW rights offering followed by a general public offering of forfeited shares has been successfully completed.

MedicoX reported that during the two-day general public offering subscription for forfeited shares held on the 6th and 7th, the final subscription rate reached 626.35 to 1, raising approximately 403.1 billion KRW in investment funds for a forfeited share offering worth about 640 million KRW. MedicoX had previously secured about 97.2% of the capital increase funds through a rights offering to existing shareholders. The new shares issued through this capital increase are priced at 1,070 KRW per share, with a scheduled listing date of the 24th.

A MedicoX representative stated, “Following high subscription rates across existing shareholders including the largest and second-largest shareholders with management participation stakes, there was also a high subscription rate in the remaining forfeited shares general public offering. Given the company’s continuously improving financial structure and future growth vision, the undervalued corporate value has been validated through this capital increase process. We will strive to ensure that future evaluations in the capital market accurately reflect the company’s core business.”

The company plans to use the funds secured through this capital increase to provide various support for the early commercialization of its bio business, which is being developed as a new business, and to prepare multifaceted measures to respond to the recently emerging shipbuilding supercycle.