Polaris AI Pharma Decides on 5 Billion KRW Third-Party Allocation Paid-in Capital Increase

Polaris AI Pharma, a KOSDAQ-listed company, announced on the 25th that it has decided to conduct a third-party allotment paid-in capital increase to raise approximately 5 billion KRW for operating funds and other purposes.

New shares totaling 803,344 common shares will be issued at 6,224 KRW per share. The third-party allotment recipients include Polaris Office Co., Ltd. (major shareholder, 200,836 shares) and Polaris Sewon Co., Ltd. (a special related party of the major shareholder, 200,836 shares), among others.

The company stated that the purpose of the third-party allotment capital increase is "to secure operating funds to achieve the company's management objectives."