[This Week's IPO] June Fourth Week Demand Forecast and Subscription Schedule

In the fourth week of this month (June), P&SM Mechanics and Excel Therapeutics will conduct demand forecasting for institutional investors. Has and Encell are preparing for general subscription.

◆P&SM Mechanics= Since its establishment in 2003, P&SM Mechanics has been a pioneer in the industry, developing over 300 types of robots and enhancing its technology with advanced humanoid robots and haptic robots in collaboration with major domestic research organizations. Its main product is the walking rehabilitation robot "Walkbot."

The total number of shares offered is 1.35 million, with a desired public offering price range of 14,000 to 17,000 KRW per share. The company will conduct demand forecasting for institutional investors from the 24th to the 28th to finalize the public offering price and will accept general subscriptions on July 8 and 9. It is scheduled to be listed in July, with Kiwoom Securities as the lead underwriter.

◆Excel Therapeutics= Excel Therapeutics is a specialized company in the development and production of "media," a core essential material in the advanced biopharmaceutical industry. Chemically Defined Media, which uses raw materials with all components chemically identified due to concerns such as virus infection risk and immunogenicity, is gaining attention as the next-generation media.

The total number of shares offered is 1,618,000, with a desired public offering price range of 6,200 to 7,700 KRW per share. Through this offering, the company plans to raise approximately 10 billion to 12.5 billion KRW (based on the lower and upper limits of the price band). Demand forecasting will be conducted from the 24th to the 28th, followed by general subscription on July 3 and 4. Daishin Securities is the lead underwriter.

◆Has= The final public offering price was set at 16,000 KRW, exceeding the upper limit of the desired price band (9,000 to 12,000 KRW). A total of 2,140 domestic and foreign institutions participated, recording a competition rate of 946.4 to 1. The total public offering amount is 29 billion KRW, and the market capitalization after listing is about 125.4 billion KRW. General subscription will be conducted on the 24th and 25th, and the company is scheduled to be listed on the KOSDAQ market on July 3. Samsung Securities is the lead underwriter.

◆Encell= The total number of shares offered is 1,566,800, with a desired public offering price band of 13,600 to 15,300 KRW, and the public offering size is expected to be between approximately 21.3 billion and 24 billion KRW. Demand forecasting for institutional investors was conducted until the 21st, and subscription for general investors will take place on the 25th and 26th. NH Investment & Securities is the lead underwriter.

Encell was founded in 2018 by Professor Jang Jong-wook of Samsung Seoul Hospital and is engaged in ▲ CDMO business for cell and gene therapies ▲ development of next-generation mesenchymal stem cell therapy (EN001) new drugs targeting rare and intractable muscle diseases such as Charcot-Marie-Tooth disease (CMT), Duchenne muscular dystrophy (DMD), and sarcopenia.