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Exicure | SC 13D/A: Statement of acquisition of beneficial ownership by individuals (Amendment)-DGP Co., Ltd.(35.4%),CBI USA, Inc.(9.5%)

SEC announcement ·  Mar 5 06:43
Summary by Futu AI
Exicure, Inc., a biotechnology company listed on NASDAQ under the ticker XCUR, has been involved in a significant transaction according to a Schedule 13D/A filing with the U.S. Securities and Exchange Commission. The amendment, filed on March 4, 2024, details the actions of two major shareholders, CBI USA, Inc. and DGP Co., Ltd., both of which have reported substantial ownership stakes in Exicure. As of February 29, 2024, DGP Co., Ltd. holds 35.4% of Exicure's outstanding common stock, while CBI USA, Inc. owns 9.5%. Collectively, they control 44.8% of the company's shares. The filing reveals that DGP Co., Ltd. entered into a stock purchase agreement with OverdigmK Co., Ltd., a company based in the Republic of Korea, to sell 3,400,000 shares of Exicure for 6 billion...Show More
Exicure, Inc., a biotechnology company listed on NASDAQ under the ticker XCUR, has been involved in a significant transaction according to a Schedule 13D/A filing with the U.S. Securities and Exchange Commission. The amendment, filed on March 4, 2024, details the actions of two major shareholders, CBI USA, Inc. and DGP Co., Ltd., both of which have reported substantial ownership stakes in Exicure. As of February 29, 2024, DGP Co., Ltd. holds 35.4% of Exicure's outstanding common stock, while CBI USA, Inc. owns 9.5%. Collectively, they control 44.8% of the company's shares. The filing reveals that DGP Co., Ltd. entered into a stock purchase agreement with OverdigmK Co., Ltd., a company based in the Republic of Korea, to sell 3,400,000 shares of Exicure for 6 billion Korean Won, equivalent to $1.32 per share. The initial 10% of the sale closed on the date of the agreement, with the remaining 90% expected to close by June 30, 2024. Additionally, CBI USA, Inc. has loaned 340,000 shares to DGP to facilitate the initial closing of the transaction. The reporting persons have expressed their belief that the current composition of Exicure's board of directors represents their interests as substantial stockholders, and they plan to continue working with the board to seek financing and address outstanding deficiencies with Nasdaq listing and SEC reporting requirements.

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