[Market Focus] Cellumed Hits Lower Limit on News of L&C Bio Acquisition Cancellation

Cellumed hit the lower price limit in early trading on December 30, following the fallout from the cancellation of the acquisition plan by L&C Bio Group.

As of 9:40 a.m. on this day, Cellumed shares were trading at 1,154 won on the KOSDAQ market, down 29.98% from the previous trading day. The stock opened at 1,203 won and immediately dropped to the lower limit.

The previous day, Cellumed announced that it would change the recipient of its third-party paid-in capital increase from L&C Bio to TD Landmark Fund No. 1. Previously, L&C ES, a subsidiary of L&C Bio, was scheduled to participate in Cellumed's third-party paid-in capital increase, but this plan was canceled. Instead, TD Landmark Fund No. 1 will exclusively receive the allocation of 28,192,370 new shares (with a subscription amount of 17 billion won) in their place.

The payment date for the paid-in capital increase has been changed from December 30 to January 22 of the following year. After the capital increase, TD Landmark Fund No. 1 will become the new largest shareholder of Cellumed, replacing the current largest shareholder, Insko B.