InskoBi APUS Completes NYSE Listing Process... Trading Begins May 9 U.S. Time

KOSPI-listed company InskoBi announced on May 9 that its subsidiary, Apimeds Pharmaceuticals US Inc. (hereinafter 'APUS'), has completed its listing process. APUS is scheduled to begin its first trading session at 10:30 a.m. Eastern Time on May 9.

An InskoBi representative stated, "As expected by the company and the market, the final public offering price was set at $4 per share after the market closed on May 8, U.S. time," adding, "All preparations for the commencement of trading have been completed."

APUS had previously submitted several amendments to its preliminary review filing (S-1/A) to the SEC for the listing. On April 17, it submitted the final amendment reducing the number of shares to be offered to 3.5 million, and has since continued discussions with the NYSE and SEC for final listing approval. On May 5, the SEC approved the amendment, allowing APUS to complete preparations for listing on the NYSE American.

Subsequently, on May 8, APUS completed all procedures necessary for the commencement of trading through the public offering process, and is scheduled to begin trading under the ticker symbol 'APUS' on the NYSE American at 10:30 a.m. on May 9.

As a result of the public offering, APUS has raised $13.5 million in funds, which will be used entirely for conducting FDA Phase 3 clinical trials for multiple sclerosis and severe osteoarthritis.

An InskoBi representative said, "We would like to thank everyone who trusted and waited for the listing of Apimeds Pharmaceuticals US Inc.," and added, "APUS is the first domestic company established for FDA Phase 3 clinical trials to be listed on the New York Stock Exchange. The year 2025 will mark the beginning of InskoBi Group's global commercialization in the bio sector."