Neoimmunetech, a KOSDAQ-listed company, is experiencing a decline in stock prices during the early trading session on the 2nd. This decline is interpreted as a result of deteriorating investor sentiment following the news of a large-scale capital increase.
As of 9:03 a.m. on this day, Neoimmunetech's stock is trading at 1,229 won, down 311 won (20.19%) compared to the previous trading day.
The immunotherapy development company Neoimmunetech announced that it has decided to conduct a capital increase worth 65 billion won after the regular market closed on May 30. It plans to proceed with the method of general subscription for the remaining shares after allocating shares to shareholders.
A total of 65,524,190 new shares will be issued, with the planned issue price set at 992 won per share. This price is a 35.6% discount compared to the closing price of 1,540 won on the announcement day, and the issue price will be confirmed on September 3. The relatively high discount rate has raised concerns among shareholders about equity dilution.
The company stated that this fundraising is a strategic move to accelerate the clinical development of the new drug candidate "NT-I7" and to secure a leading position in technology transfer negotiations. Subscription for existing shareholders' capital increase will take place from September 8 to 9, and the new shares will be listed on October 16.