GemVax Raises 52.1 Billion KRW Through Capital Increase and Convertible Bonds

On December 24, GemVax, a KOSDAQ-listed company, announced that it has decided to raise approximately 17 billion KRW in operating funds, including research and development expenses, through a third-party allotment capital increase. The recipients are Gem&Company, the largest shareholder, and Kim Kiho, CEO of GemVax.

On the same day, GemVax also announced that it would raise 35.1 billion KRW in operating funds, including research and development expenses, through the issuance of convertible bonds (CB). The maturity date for the bonds is January 23, 2029.

As a result, GemVax will have raised a total of 52.1 billion KRW in funds.