[Featured Stock] Medipron, Convertible Bonds and Paid-in Capital Payment... 'Rising'

[Asia Economy Reporter Hyunseok Yoo] Medipron is on the rise. It appears that the news of the completion of payment for a total of 8 billion KRW, including convertible bonds (CB) and a paid-in capital increase of 2.5 billion KRW, has had an impact.

As of 2:19 PM on the 12th, Medipron was trading at 3,690 KRW, up 1.93% (70 KRW) compared to the previous trading day.

On this day, Medipron announced through a disclosure that 5.6 billion KRW from convertible bonds and 2.5 billion KRW from the paid-in capital increase were successfully paid. The subscriber of the convertible bonds is BioFrontier Investment Association, and the paid-in capital increase involved the largest shareholder BrainContents and two others.

The scheduled listing date for the new shares from the paid-in capital increase is the 26th of this month, and all these shares will be under a one-year lock-up period. With the completion of payment for the convertible bonds and the paid-in capital increase, Medipron has secured more than 25 billion KRW in cash assets.

The funds secured this time are expected to be used for the development of core businesses such as dementia treatment drugs, dementia diagnostic kits, non-narcotic analgesics, and the acquisition of various new pipelines.

A company official stated, “With the active support of the largest shareholder, financial soundness has been sufficiently secured, and as the governance structure of management rights has stabilized, mid- to long-term investment has become possible.” He added, “Including equity investment in NewMice, which is developing the world’s first atherosclerosis diagnostic and therapeutic agent, the discovery and development speed of candidate substances will accelerate further this year.”

CEO Nogiseon of Medipron said, “BrainContents, which acquired management rights last March, has continuously participated in the paid-in capital increase and expanded its stake,

which is interpreted as demonstrating strengthened responsible management as the largest shareholder, confidence in performance, and a strong will for new drug development.” He emphasized, “We are focusing our business capabilities with the goal of turning profitable through management innovation this year, and we will fully launch the bio business to secure future competitiveness and enhance shareholder value.”

This content was produced with the assistance of AI translation services.