Lunit said on the 13th that Atinum Investment, a domestic venture capital (VC), will join as a key investor in the shareholder-allotted paid-in capital increase worth 200 billion won that Lunit is pursuing.
According to Lunit, Atinum plans to invest a total of 30 billion won by acquiring part of the warrants held by Lunit board chair Baek Seung-uk and CEO Seo Beom-seok and participating in additional subscriptions. The acquisition volume is about 960,000 shares, including those held by executives.
Atinum is an investment firm with more than 2 trillion won in assets under management (AUM) that has executed large-scale investments in corporations through a single-fund "one-fund" strategy. It also made early investments in biotech companies such as Celltrion and LigaChem Biosciences in the past.
Atinum Vice President Kim Je-uk said, "We focused on Lunit's AI capabilities and the new industrial value that medical AI will create," and "we joined the investment with confidence in Lunit's mid- to long-term growth potential."
Lunit plans to use the funds secured through this paid-in capital increase for repayment of the convertible bonds (CB) issued at the time of the Volpara (now Lunit International) acquisition, as well as for global research and development (R&D) and overseas business expansion.
Chair Baek and CEO Seo plan to reinvest the proceeds from the sale of their warrants into the paid-in capital increase subscription.
CEO Seo said, "Through this fundraising, we will completely resolve financial uncertainty and, by accelerating performance in the global market, fulfill our responsibility to enhance shareholder value and achieve sustainable growth."