[Market Focus] Neorigin Surges on Announcement of 2.4 Billion Won Capital Increase Payment Completion

As of 9:40 a.m. on July 17, shares of Neorigin on the KOSDAQ market were trading at 1,345 won, up 29.95% from the previous day's closing price. This appears to be due to the announcement made the previous day regarding the payment for a 2.4 billion won third-party allotment capital increase.

Neorigin, together with its wholly owned subsidiaries, operates and produces a variety of businesses, including publishing services for games across genres such as idle RPG, strategy, and role-playing, as well as running and producing a short-form drama platform.

The previous day, Neorigin announced that the payment for a 2.4 billion won third-party allotment capital increase, which had been resolved with Coffee Family Co., Ltd. as the target, had been completed. The number of shares to be issued is 2.65 million, with an issue price of 906 won per share. All of the newly issued shares will be subject to a one-year lock-up. The funds raised through the capital increase will be used entirely for operating capital. According to the company, Coffee Family, the recipient of the capital increase, was founded by Neorigin CEO Chen Bo, who is also the largest shareholder of Coffee Family.

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