Exicure, Inc. Announces Shareholders Approve the $8.7 Million Equity Financing and Reports Executive Management and Board Changes
Exicure (XCUR) announced stockholder approval of an $8.7 million equity financing from HiTron Systems, following an initial $1.3 million investment in November. The total $10 million investment at $3 per share will make HiTron Exicure's largest shareholder with over 50% ownership. The company also received $2 million from SangSangIn Investment & Securities through the sale of 433,332 shares at $4.61 per share.
The Board expanded to nine directors with four new appointments. The company is in discussions with a US therapeutics company, with updates expected in January. Following a Nasdaq notification about non-compliance with the $2.5 million stockholders' equity requirement, Exicure presented its compliance plan on December 17, 2024, and believes recent investments will help meet listing requirements.
Exicure (XCUR) ha annunciato l'approvazione degli azionisti per un finanziamento azionario di 8,7 milioni di dollari da HiTron Systems, dopo un investimento iniziale di 1,3 milioni di dollari a novembre. L'investimento totale di 10 milioni di dollari a 3 dollari per azione porterà HiTron a diventare il maggiore azionista di Exicure con oltre il 50% di proprietà. L'azienda ha inoltre ricevuto 2 milioni di dollari da SangSangIn Investment & Securities attraverso la vendita di 433.332 azioni a 4,61 dollari per azione.
Il Consiglio di Amministrazione è stato ampliato a nove membri con quattro nuove nomine. L'azienda è attualmente in trattative con una compagnia terapeutica statunitense, con aggiornamenti attesi a gennaio. A seguito di una notifica del Nasdaq riguardo alla non conformità con il requisito di capitale azionario di 2,5 milioni di dollari, Exicure ha presentato il suo piano di conformità il 17 dicembre 2024, e ritiene che gli investimenti recenti contribuiranno a soddisfare i requisiti di quotazione.
Exicure (XCUR) anunció la aprobación de los accionistas para un financiamiento de capital de 8,7 millones de dólares por parte de HiTron Systems, después de una inversión inicial de 1,3 millones de dólares en noviembre. La inversión total de 10 millones de dólares a 3 dólares por acción convertirá a HiTron en el mayor accionista de Exicure con más del 50% de propiedad. La compañía también recibió 2 millones de dólares de SangSangIn Investment & Securities a través de la venta de 433.332 acciones a 4,61 dólares por acción.
La Junta se expandió a nueve directores con cuatro nuevos nombramientos. La compañía está en conversaciones con una empresa terapéutica estadounidense, con actualizaciones esperadas en enero. Tras una notificación del Nasdaq sobre el incumplimiento del requisito de capital de 2,5 millones de dólares por parte de los accionistas, Exicure presentó su plan de cumplimiento el 17 de diciembre de 2024 y cree que las inversiones recientes ayudarán a cumplir con los requisitos de cotización.
Exicure (XCUR)는 HiTron Systems로부터 870만 달러의 자본 조달을 주주들이 승인했다고 발표했으며, 이는 11월에 초기 130만 달러의 투자에 이은 것입니다. 주당 3달러의 가격으로 총 1000만 달러의 투자는 HiTron이 Exicure의 최대 주주로서 50% 이상의 지분을 보유하게 될 것입니다. 또한 회사는 SangSangIn Investment & Securities로부터 433,332주를 주당 4.61달러에 판매하여 200만 달러를 받았습니다.
이사회는 네 명의 신규 이사를 포함해 총 아홉 명으로 확장되었습니다. 회사는 미국의 치료제 회사와 논의 중이며, 1월에 업데이트가 있을 것으로 예상됩니다. Nasdaq에서 250만 달러 주주 자본 요건 미준수에 대한 통지를 받은 후, Exicure는 2024년 12월 17일에 준수 계획을 제출했으며, 최근의 투자가 상장 요건을 충족하는 데 도움이 될 것이라고 믿고 있습니다.
Exicure (XCUR) a annoncé l'approbation des actionnaires pour un financement en actions de 8,7 millions de dollars par HiTron Systems, suite à un investissement initial de 1,3 million de dollars en novembre. L'investissement total de 10 millions de dollars à 3 dollars par action fera de HiTron le plus grand actionnaire d'Exicure avec plus de 50 % de propriété. L'entreprise a également reçu 2 millions de dollars de SangSangIn Investment & Securities par la vente de 433 332 actions au prix de 4,61 dollars par action.
Le conseil d'administration s'est élargi à neuf membres avec quatre nouvelles nominations. L'entreprise est en discussion avec une société thérapeutique américaine, avec des mises à jour attendues en janvier. Suite à une notification du Nasdaq concernant le non-respect de l'exigence de capital-actions de 2,5 millions de dollars, Exicure a présenté son plan de conformité le 17 décembre 2024 et estime que les investissements récents aideront à répondre aux exigences de cotation.
Exicure (XCUR) hat die Zustimmung der Aktionäre zu einer Eigenkapitalfinanzierung in Höhe von 8,7 Millionen Dollar von HiTron Systems bekannt gegeben, nach einer Anfangsinvestition von 1,3 Millionen Dollar im November. Die Gesamtinvestition von 10 Millionen Dollar zu 3 Dollar pro Aktie wird HiTron zum größten Aktionär von Exicure mit über 50% Eigentum machen. Das Unternehmen erhielt auch 2 Millionen Dollar von SangSangIn Investment & Securities durch den Verkauf von 433.332 Aktien zu 4,61 Dollar pro Aktie.
Der Vorstand wurde auf neun Mitglieder erweitert, wobei vier neue Ernennungen vorgenommen wurden. Das Unternehmen ist in Gesprächen mit einem US-Therapeutikunternehmen, mit Aktualisierungen, die im Januar erwartet werden. Nachdem Nasdaq eine Benachrichtigung über die Nichtkonformität mit dem Eigenkapitalanforderung von 2,5 Millionen Dollar gesendet hat, hat Exicure am 17. Dezember 2024 seinen Compliance-Plan vorgestellt und glaubt, dass die kürzlichen Investitionen helfen werden, die Zulassungsanforderungen zu erfüllen.
- Secured total investment of $10 million from HiTron Systems
- Additional $2 million investment received from SangSangIn Investment
- Recent investments may help resolve Nasdaq listing compliance issues
- Company faces potential Nasdaq delisting risk due to equity requirement non-compliance
- Significant ownership dilution with HiTron acquiring over 50% control
Insights
The
This financing structure addresses two immediate concerns: the Nasdaq listing compliance issue and working capital needs. The combined investments should help Exicure meet the
The pricing differential between HiTron (
The expansion of the board to nine directors and appointment of four new directors marks a significant governance restructuring, effectively transferring control to HiTron. This change of control transaction fundamentally alters Exicure's corporate structure and decision-making dynamics. The rapid execution of board changes following stockholder approval demonstrates HiTron's intent to quickly implement its strategic vision.
The pending discussions with a US therapeutics company suggest potential strategic realignment under the new leadership. The timing of these developments, coupled with the financial restructuring, indicates a comprehensive transformation strategy rather than incremental changes. The governance overhaul provides HiTron with the necessary control to drive strategic decisions while maintaining Nasdaq compliance requirements.
The total investment from HiTron will be
As disclosed in the 8-K filed on December 9, 2024, the Company entered into a Common Stock Purchase Agreement with SangSangIn Investment & Securities Co., Ltd. (“SangSang”), pursuant to which the Company agreed to issue and sell to SangSang 433,332 shares of the Company’s common stock, par value
With these additional investments, the Company is positioned to focus on developing its core pipeline and pursuing strategic transactions. The Company is in discussions with a US therapeutics company and expects to provide an additional update in January.
As previously disclosed, on June 20, 2024, the Company was notified by The Nasdaq Stock Market LLC (“Nasdaq”) that the Company no longer satisfied the minimum
About Exicure, Inc.
Exicure, Inc. has historically been an early-stage biotechnology company focused on developing nucleic acid therapies targeting ribonucleic acid against validated targets. Following its recent restructuring and suspension of clinical and development activities, the Company is exploring strategic alternatives to maximize stockholder value, both with respect to its historical biotechnology assets and more broadly. For further information, see https://investors.exicuretx.com/overview/default.aspx.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. There can be no assurance regarding our ability to comply with the Panel’s decision and the applicable listing criteria by the deadline or thereafter. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual outcomes to differ materially from the outcomes expressed or implied by this report. Such risks include, among others, the possibility we will not be able to cure existing listing deficiencies, the possibility of additional deficiencies, the risk that the Company may not adequately comply with the terms of the Panel’s decision, and the risk that Nasdaq will ultimately delist the Company’s common stock. All such factors are difficult to predict and may be beyond the Company’s control. The Company undertakes no obligation and does not intend to update or revise any forward-looking statements contained herein, except as required by law or regulation. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report.
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Media Contact:
Josh Miller
847-673-1700
media@exicuretx.com
Source: Exicure, Inc.
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