Polaris AI Pharma Decides on 5 Billion KRW Third-Party Allocation Paid-in Capital Increase
Polaris AI Pharma, a KOSDAQ-listed company, announced on the 25th that it has decided to conduct a third-party allotment paid-in capital increase to raise approximately 5 billion KRW for operating funds and other purposes.
New shares totaling 803,344 common shares will be issued at 6,224 KRW per share. The third-party allotment recipients include Polaris Office Co., Ltd. (major shareholder, 200,836 shares) and Polaris Sewon Co., Ltd. (a special related party of the major shareholder, 200,836 shares), among others.
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The company stated that the purpose of the third-party allotment capital increase is "to secure operating funds to achieve the company's management objectives."
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