Published 23 May.2023 09:44(KST)
The stock price of CrystalGenomics is on the rise. News of a large-scale capital raise appears to be influencing the stock price.
At 9:43 AM on the 23rd, CrystalGenomics was trading at 4,180 KRW, up 16.11% from the previous day.
CrystalGenomics announced the day before that it will conduct a third-party allotment paid-in capital increase targeting NewLake Invites Investment. NewLake Invites Investment will invest 58 billion KRW to acquire 15 million redeemable convertible preferred shares and 4,647,696 common shares. If payment is made on the 2nd of next month, the largest shareholder will change.
NewLake Invites Investment is 100% owned by Invites Investment Co., Ltd. At the top of the governance structure of Invites Investment Co., Ltd. is Invites Healthcare. Invites Healthcare is a digital healthcare company established in March 2020 with approximately 45 billion KRW investments each from the private equity fund (PEF) NewLake Alliance and SK Telecom.
CrystalGenomics is expected to collaborate with the new largest shareholder. Invites Healthcare is building the Invites ecosystem together with SK Telecom, Seoul National University Hospital, NewLake Alliance, and others. If CrystalGenomics joins, the digital healthcare business including diagnostics and medical big data can expand to include the new drug development ecosystem as well. Related companies of CrystalGenomics include Hwail Pharmaceuticals (11.41%) and PanGen (14.37%).
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