T&R Biofab, a KOSDAQ-listed company, reported that it has decided to carry out a paid capital increase of 40 billion won, leading to a decline in stock prices in early trading on the 4th.
As of 9:21 a.m. on that day, T&R Biofab's shares were trading at 3,270 won, down 625 won (16.05%) from the previous trading day.
The regenerative medicine company T&R Biofab announced that it decided on a paid capital increase of 40 billion won after the regular trading session on the previous trading day, the 1st. The planned issue price is set at 2,515 won per share, which will be finalized on October 15. The new stock allocation record date is scheduled for the 10th of next month, and subscription for existing shareholders will take place over two days from October 20 to 21.
It is interpreted that investor sentiment has worsened due to the fact that more than half of the funds from the capital increase, 22.4 billion won, will be used for debt repayment. The company plans to use the remaining 15.9 billion won for operating funds and 1.7 billion won for facility funds.
Additionally, T&R Biofab has decided to conduct a free capital increase, allocating 0.2 shares of new stock for each existing share. Following the free capital increase, the total number of common and preferred shares will increase by approximately 7.59 million shares, from 37.93 million to 45.51 million shares. The new stock allocation record date is set for October 30, and the new shares will be listed on November 18.