Summary by Moomoo AI
On September 12, 2024, Exicure, Inc., a biotechnology company based in Chicago, entered into agreements to convert debt into equity with two of its promissory note holders. The company reached a deal with DGP Co., Ltd., its largest shareholder, to issue 237,233 shares in exchange for the full satisfaction of a $700,000 promissory note, including accrued interest. The conversion price was set at $3.00 per share. Additionally, an agreement was made with an individual note holder to issue 101,991 shares for the full satisfaction of a $300,000 promissory note, also at a conversion price of $3.00 per share. These shares will be issued unregistered under the Securities Act of 1933, in a private transaction exempt from registration requirements. In a separate event on September 13, 2024, Exicure announced that it had regained compliance with Nasdaq's minimum bid price requirement, maintaining its listing on the exchange.