---
schema_version: "secwatch.filing_event.v1"
accession: "0001698530-23-000019"
form_type: "8-K"
ticker: "XCUR"
cik: "0001698530"
company_name: "EXICURE, INC."
filed_at: "2023-03-02T23:59:59+00:00"
generated_at: "2026-06-18T15:32:58.106996+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Exicure changes control to CBI USA (50.4% owner); appoints two directors, dissolves compensation committee

## Summary
- 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.

## SEC filing metadata
- accession: 0001698530-23-000019
- form_type: 8-K
- ticker: XCUR
- cik: 0001698530
- company_name: EXICURE, INC.
- filed_at: 2023-03-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000019/0001698530-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000019/xcur-20230224.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001698530-23-000019
- JSON: https://secwatch.observer/filing/0001698530-23-000019.json
- Plain text: https://secwatch.observer/filing/0001698530-23-000019.txt

## Key facts
- Executive change
  Seung Soo Shin was appointed as Chairman of the Board at EXICURE, INC..
  - Action: appointed
  - Role: Chairman of the Board
  source text: The Board appointed Cheolho Jo and Seung Soo Shin to the Board, effective February 27, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000019/0001698530-23-000019-index.htm
- Executive change
  Cheolho Jo was appointed as Director at EXICURE, INC..
  - Action: appointed
  - Role: Director
  source text: The Board appointed Cheolho Jo and Seung Soo Shin to the Board, effective February 27, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000019/0001698530-23-000019-index.htm
- M&A Transactions
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000019/0001698530-23-000019-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.