Cellid is experiencing a surge in stock prices following its decision to conduct a 10 billion won capital increase involving a change in its largest shareholder.
According to the Korea Exchange, as of 2:57 PM on September 22, Cellid's shares were trading at 2,885 won, up 29.95% from the previous trading day.
On September 21, Cellid announced that it had decided to issue new shares worth approximately 10 billion won through a third-party allocation to Universe Global. The new shares will total 4,796,163 common shares, with an issue price of 2,085 won per share. The payment date for the capital increase is set for November 9.
Once the payment is completed, Universe Global will become the largest shareholder of Cellid. On the same day, Cellid also signed a 'Management Rights Change Agreement' with Universe Global, aimed at changing the management structure through the issuance of new shares.
Under the agreement, the board of directors will be restructured based on Universe Global's subscription of new shares and new investment. The new board will consist of four directors designated by Universe Global and two directors designated by the existing largest shareholder, along with one auditor who will also be appointed by Universe Global. The representative director will be appointed from Universe Global's nominees.
The newly issued shares from this capital increase will be subject to a one-year lock-up period. Any issuance of convertible bonds related to new investments will be separately disclosed after approval by the board of directors.
* This article has been translated by AI.
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