CXI CEO Lin Jinseong Completes Capital Increase Subscription... 68% Premium Issuance and 3-Year Lock-Up

KOSDAQ-listed company CXI announced on March 13 that the paid-in capital increase through a third-party allotment has been successfully completed.

After the capital increase, CEO Lin Jinseong will hold 4,776,547 shares (12.8%), making him the largest shareholder. CEO Lin decided to participate in the capital increase at KRW 730 per share, a 67.7% premium over the reference price. The issuance of new shares above par value demonstrates the commitment of the largest shareholder and management to maintain the company’s listing status. To alleviate market concerns over overhang, CEO Lin voluntarily decided on a three-year lock-up period for the new shares issued through the capital increase—one year mandatory and an additional two years voluntarily. This move signals a strong will to actively enhance corporate value through strengthening responsible management and building market trust.

A CXI official stated, "With the completion of the paid-in capital increase and the change in the largest shareholder to CEO Lin, we have laid a foundation for strengthening responsible management and actively expanding our business. The issuance at a premium above par value and the voluntary three-year lock-up reflect our commitment, as the largest shareholder and management, to prioritizing shareholder interests and enhancing corporate value."

Meanwhile, at the end of last month, CXI announced plans to review and implement all possible measures to maintain its listing and enhance corporate value, including: strengthening profitability-driven management, expanding competitiveness in core businesses, securing new growth drivers, and improving financial soundness and management efficiency.

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