1. What Happened? Curocell Issues ₩10 Billion in Convertible Bonds

Curocell has issued ₩10 billion worth of convertible bonds through a private placement. Hana Tech Value Up Fund No. 2, managed by Hana Ventures, participated as the investor. The conversion price is set at ₩41,950, with a maturity interest rate of 1.0%. These funds will be strategically utilized to strengthen marketing and production capabilities in preparation for the launch of Limcato.

2. Why the Bond Issuance? Funding Limcato’s Launch

Curocell is aiming to launch Limcato in the second half of 2025. A successful product launch requires significant investment in marketing, sales, and production capacity expansion. This convertible bond issuance serves as a crucial step in securing the necessary funding for Limcato’s commercialization.

3. How Will This Affect the Stock Price? Opportunities and Risks

This bond issuance presents both opportunities and risks. On the positive side, securing funding for Limcato’s launch provides a significant growth catalyst, and the investment from Hana Ventures validates Curocell’s potential. However, there are also potential downsides, including stock dilution and the possibility of conversion price adjustments if the stock price declines.

4. What Should Investors Do? Focus on Key Metrics

  • Current Investors: Maintain a long-term perspective considering the growth potential, but be aware of the dilution risk.
  • Potential Investors: Closely monitor key metrics such as Limcato’s regulatory approval, post-launch sales performance, and clinical trial progress.

Keep an eye on Limcato’s regulatory approval, launch schedule, sales performance, and the progress of the next pipeline’s clinical trials. The conversion rate and changes at the maturity of the convertible bonds are also important factors to monitor.