Rokit Healthcare Specifies NASDAQ Listing Procedures for U.S. Subsidiary
"Estimated Corporate Value: KRW 386.8 Billion"
Rokit Healthcare has specified the procedures for the NASDAQ listing of Rokit America, its wholly owned U.S. subsidiary.
On May 11, Rokit Healthcare announced in a correction disclosure that Rokit America has submitted an amended securities registration statement (Form S-1/A) to the U.S. Securities and Exchange Commission (SEC).
According to the disclosure, Rokit America plans to offer 2,631,579 shares of common stock through a new share issuance. After the offering, the total number of shares outstanding will be 27,631,679. The anticipated price range for the offering is $8.50 to $10.50 per share, and based on the midpoint of $9.50, the estimated market capitalization is $262.5 million (approximately KRW 386.8 billion).
Rokit America is seeking to list on the NASDAQ Global Market, rather than the NASDAQ Capital Market. Even after the listing, Rokit Healthcare expects to retain approximately 90% ownership of Rokit America. The company believes that establishing a direct funding base for its local corporation will enable it to accelerate the expansion of its business in North and South America.
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Rokit America is working to expand its regenerative medicine and digital healthcare business, focusing on the United States and South America. This includes pursuing a partnership with Northwell Health, projects related to chronic kidney disease (CKD) prediction, and skin and cartilage regeneration businesses.
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