Medical artificial intelligence (AI) company Lunit has denied rumors of a capital increase and stated that there will be no rights offering for operating funds this year.
On May 14, Lunit announced on its official blog, "The company clearly states that it will not conduct a rights offering for operating funds this year," adding, "This is an unwavering promise that is consistent with the commitment made at this year's shareholders' meeting." The company explained that it has sufficient cash on hand to operate the business, so there are no plans for a rights offering for operating funds. On the same day, Lunit's share price fell as much as 11.4% during trading to 48,150 won due to the rumors of a capital increase, before closing at 51,100 won, down 6.0% from the previous close.
The company further stated, "Even if there is a need to secure additional funds in the future for cash stability, we will do so in a stable manner that does not undermine shareholder value," and added, "We do not intend to use methods such as shareholder-allotted rights offerings that would be detrimental to shareholder value."
Lunit also emphasized that the company is on track with its planned goals and direction, having achieved its highest-ever quarterly results in the first quarter of this year.
Seo Beomseok, CEO of Lunit, said, "Lunit is working tirelessly to become a leading company in the global medical AI field," and added, "As we have once again promised that there are no plans for a rights offering, I hope that no one will be swayed by malicious rumors."
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