NK Max Decides 100% Free Share Issue to "Enhance Shareholder Value"

NK cell therapy research and development specialist company NKMAX announced on the 6th that it has decided on a 100% free capital increase. One new share will be allocated for each existing common share.

With this capital increase, 41,433,988 new shares will be issued, increasing the total number of issued shares to 82,869,691. The record date for new share allocation is the 22nd of this month, and the expected listing date for the new shares is January 12 of next year.

NKMAX plans to actively return profits to shareholders, as a significant amount of valuation gains is expected this year from the Nasdaq listing of its US subsidiary NKGen Biotech.

Additionally, despite the government's short-selling ban, a large short-selling balance remains. To activate trading and normalize the stock price by increasing the number of circulating shares, the company decided on this free capital increase.

Park Sang-woo, CEO of NKMAX, said, “I understand that shareholders have had great concerns due to indiscriminate short selling unrelated to the company's intrinsic value. Through this free capital increase, we prioritize the interests of shareholders who have believed in and supported the company's growth, and we will enhance corporate value through continuous growth.”

Meanwhile, NKMAX plans to expand brain disease research by conducting global clinical trials in the US for Alzheimer's disease, following positive clinical results announced this year. It is also expected to strengthen future growth engines through the commercialization of the SNK01 cell therapy in Japan, the Middle East, and other regions.