By Connor Hart
Exicure has inked two equity-financing deals, receiving $10 million in exchange for a controlling interest in the company.
The Chicago biotechnology company will receive $1.3 million from HiTron Systems, a South Korean security-systems provider, for 433,333 shares of its common stock. Upon the deal's closing, HiTron will have the right to appoint two nominees to the Exicure's board, subject to certain conditions, it said Thursday.
Separately, Exicure will sell an additional 2.9 million shares of its common stock to HiTron, also for $3 apiece, or $8.7 million. Upon closing of this subsequent investment, HiTron will have the right to appoint additional nominees in proportion to its equity interest.
Shares edged 1.3% lower, to $3.14, in after-hours trading.
The company, which previously received an extension to show compliance with all applicable listing criteria by Nov. 14, believes it will meet these requirements following its equity-financing deals.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
November 14, 2024 18:13 ET (23:13 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。