EXICURE, INC. (XCUR): M&A transaction — Exicure changes control to CBI USA (50.4% owner); appoints two directors, dissolves compensation committee

EXICURE, INC.

CBI USA now owns 50.4% of Exicure after private placement closing Feb 24, 2023.
CBI funded acquisition via $5.44M exchangeable bond from DGP (0% coupon, 5% YTM, 2-year term, exchangeable for 3.4M shares).
Cheolho Jo and Seung Soo Shin appointed to board effective Feb 27; Shin as Chairman, Jo on Audit Committee.
Compensation and Nominating committees dissolved; Audit Committee reconstituted with Lee, Ahn, Jo.
Company will rely on Nasdaq controlled company exemptions for independent board/committee requirements.

item 5.01 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Seung Soo Shin

Chairman of the Board

XCUR · EXICURE, INC.

Effective: 2023-02-27
Filed: March 2, 2023, 6:59 PM ET

The Board appointed Cheolho Jo and Seung Soo Shin to the Board, effective February 27, 2023.

Appointed

Cheolho Jo

Director

XCUR · EXICURE, INC.

Effective: 2023-02-27
Filed: March 2, 2023, 6:59 PM ET

The Board appointed Cheolho Jo and Seung Soo Shin to the Board, effective February 27, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Seung Soo Shin was appointed as Chairman of the Board at EXICURE, INC..

Action: appointed
Role: Chairman of the Board

Exact text from the filing

The Board appointed Cheolho Jo and Seung Soo Shin to the Board, effective February 27, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Cheolho Jo was appointed as Director at EXICURE, INC..

Action: appointed
Role: Director

Exact text from the filing

The Board appointed Cheolho Jo and Seung Soo Shin to the Board, effective February 27, 2023.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

EXICURE, INC. underwent a change of control involving CBI USA, Inc. (closed 2023-02-24).

Action: change of control
Counterparty: CBI USA, Inc.
Closing: 2023-02-24

Exact text from the filing

As a result of the previously disclosed closing of the private placement (the “Private Placement”) to CBI USA, Inc. (“CBI”) on February 24, 2023 pursuant to the Securities Purchase Agreement dated September 26, 2022 (the “SPA”), CBI is the beneficial owner of 50.4% of the Company’s outstanding shares.

View on SEC.gov

5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

EXICURE, INC. filing history →

Source: SEC EDGAR

accession 0001698530-23-000019

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.