Lunit, a medical artificial intelligence (AI) corporation, was rumored to be pushing for a rights offering for shareholders, which caused its stock price to plummet. Lunit denied this, saying it is "not true."
Lunit's stock finished the regular transaction at 50,200 won on the KOSDAQ market on the 14th. The stock price fell by 7.72% (4,200 won) compared to the previous day. During trading, the stock price declined to 48,150 won, surpassing a 10% drop.
It appears that sell orders surged due to rumors that Lunit would pursue a rights offering for shareholders. If new shares are issued for the rights offering, the value of the stocks can be diluted.
Lunit said, "This year, we will not conduct a rights offering for the purpose of operating funds," adding that "the commitment made at the regular shareholders' meeting remains unchanged." Lunit also noted, "Even if there is a necessity for funding to ensure cash stability in the future, we plan to secure cash steadily without harming shareholder value," stating that "we do not intend to utilize methods such as shareholder-assigned rights offerings that are contrary to shareholder value."
Lunit recorded revenue of 19.2 billion won in the first quarter, achieving a quarterly record. However, the operating loss also increased to 20.7 billion won, an increase of 7.8 billion won compared to the same period last year.