---
schema_version: "secwatch.filing_event.v1"
accession: "0001698530-23-000042"
form_type: "8-K"
ticker: "XCUR"
cik: "0001698530"
company_name: "EXICURE, INC."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:26:55.124242+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.72
calibrated_materiality_score: 0.72
confidence: "high"
source: SEC EDGAR
---

# Exicure invests $1M in Cyworld Z bonds, faces Nasdaq delisting risk over audit committee

## Summary
- Invested $1M in Cyworld Z convertible bonds (4.5% YTM, matures May 2026) with conversion at KRW 85,000/share and quarterly put option.
- Nasdaq notified Exicure that its audit committee no longer meets independence requirement after Hyukku Lee resignation; company intends to cure.
- Hyukku Lee resigned from board and audit committee effective May 3, 2023; no disagreement cited.
- Appointed Joshua Miller as Chief Accounting Officer; he was Controller since April 2022.

## SEC filing metadata
- accession: 0001698530-23-000042
- form_type: 8-K
- ticker: XCUR
- cik: 0001698530
- company_name: EXICURE, INC.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.72
- calibrated_materiality_score: 0.72
- confidence: high
- sec_items: 1.01, 3.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000042/0001698530-23-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000042/xcur-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001698530-23-000042
- JSON: https://secwatch.observer/filing/0001698530-23-000042.json
- Plain text: https://secwatch.observer/filing/0001698530-23-000042.txt

## Key facts
- Listing & Compliance Notices
  EXICURE, INC. received a nasdaq deficiency notice notice regarding other.
  - Exchange: nasdaq
  - Notice: deficiency notice
  source text: May 5, 2023, the Company notified the Listing Qualifications Department of The Nasdaq Stock Market LLC (“ Nasdaq ”) that as a result of Hyukku Lee from the Company’s board of directors (the “ Board ”) (as described below in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000042/0001698530-23-000042-index.htm
- Executive change
  Hyukku Lee resigned as Class II Director at EXICURE, INC..
  - Action: resigned
  - Role: Class II Director
  source text: On May 3, 2023, Hyukku Lee resigned from the Board as a Class II Director, effective immediately as of such date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000042/0001698530-23-000042-index.htm
- Executive change
  Joshua Miller was appointed as Chief Accounting Officer at EXICURE, INC..
  - Action: appointed
  - Role: Chief Accounting Officer
  source text: On May 3, 2023, the Board approved the appointment of Joshua Miller to Chief Accounting Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000042/0001698530-23-000042-index.htm
- Material Agreements
  EXICURE, INC. entered into Subscription Agreement with Cyworld Z Co., Ltd. valued at USD $1 million (effective 2023-05-03).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Cyworld Z Co., Ltd.
  - Value: USD $1 million
  - Effective: 2023-05-03
  source text: As previously disclosed, on May 3, 2023, Exicure, Inc. (the “ Company ”) entered into a subscription agreement (the “ Subscription Agreement ”) with Cyworld Z Co., Ltd., (“ Cyworld Z ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698530/000169853023000042/0001698530-23-000042-index.htm

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