MZ Solution's Rights Offering Subscription Success... Subscription Rate 71,514%

MGene Solutions announced on the 26th that the rights offering subscription conducted this month was successfully completed.

MGene Solutions disclosed on the 22nd that subscriptions for 82,644,233 shares were made for the planned number of shares to be issued in the public offering, achieving a subscription rate of 7,1514.44%.

The scheduled listing date for the new shares from this rights offering is January 4, 2024. MGene Solutions plans to use the funds raised for facility investment and operating capital to enter new overseas businesses.

Meanwhile, MGene Solutions recently agreed to collaborate with the major security company SK Shieldus on AI (artificial intelligence) fire solutions and security infrastructure construction. The detailed cooperation projects include ▲ security infrastructure construction for hazardous material storage facilities ▲ building security system construction ▲ and mutual cooperation to expand other projects in domestic and overseas markets.

A company representative said, “We thank all shareholders who trusted the company and participated in the subscription,” adding, “The overseas new business for coil magnetic components is progressing smoothly, and following the recent global approval of the first gene-editing therapy, our xenotransplantation business is expected to gain further momentum.”

They also added, “According to the industry, the global security market is predicted to reach approximately 439 trillion KRW by 2030, representing a massive market,” and “Together with SK Shieldus, we will maximize synergy between the two companies and actively expand not only the domestic but also overseas smart city and public platform markets.”