Exicure invests $1M in convertible bonds of Cyworld Z, maturing 2026 with 4.5% yield

EXICURE, INC.

Exicure purchased $1M face value convertible bonds of Cyworld Z, maturity May 15, 2026.
Bonds have 0% coupon but 4.5% yield to maturity; put options available starting Aug 2024.
Conversion price set at KRW 85,000 per share; conversion ratio is 100% of face value.
Investment is a non-guaranteed private placement; proceeds used for Cyworld Z working capital.
Exicure also has acceleration rights upon default and must be consulted on major corporate actions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

EXICURE, INC. entered into Subscription Agreement with Cyworld Z Co., Ltd. valued at USD $1 million (effective 2023-05-16).

Action: entry
Agreement: notes offering
Counterparty: Cyworld Z Co., Ltd.
Value: USD $1 million
Effective: 2023-05-16

Exact text from the filing

On May 16, 2023, Exicure, Inc. (the “ Company ”) entered into a subscription agreement (the “ Subscription Agreement ”) with Cyworld Z Co., Ltd., (“ Cyworld Z ”).

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38 material agreements filed in the last 30 days. Browse all material agreements →

EXICURE, INC. filing history →

Source: SEC EDGAR

accession 0001698530-23-000058

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