PharmAbcine Completes 4.7 Billion KRW Paid-in Capital Increase for Tire Bank and Others

PharmAbcine announced on the 12th that it has decided to conduct a third-party allotment paid-in capital increase to raise approximately 4.7 billion KRW for operating funds and other purposes.

6,642,867 new common shares will be issued at 700 KRW per share. The third-party allotment recipients include Shim Juyeop (3,285,715 shares) and Tire Bank Co., Ltd. (major shareholder, 1,714,286 shares), among others.

The company stated that the purpose of the third-party allotment is "operating funds and research and development investment."

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