Ascendio will acquire real estate located in Jung-gu, Seoul, owned by Gyeongnam Pharmaceutical, through an in-kind contribution method, and will carry out a third-party allotment capital increase of KRW 13.1 billion for this purpose.

On the 7th, Ascendio announced via regulatory filing that its board of directors had resolved to issue 16,233,418 common shares in a third-party allotment capital increase. The new share issue price is KRW 807 per share, bringing the total amount to be raised to KRW 13,100,368,326. The proceeds will be used entirely as facility funds.

Gyeongnam Pharmaceutical is the in-kind contributor for this capital increase, which is being conducted in lieu of a cash raise. The asset Ascendio is acquiring consists of the land and buildings on three parcels, including 160-14 Sindang-dong, Jung-gu, Seoul, with an appraised value of KRW 13,100,369,000. The difference of KRW 3,321,674 between the total new share issue amount and the appraised value will be settled in cash.

According to a separate filing, Ascendio resolved to acquire the real estate for KRW 13,100,369,000. This amount is equivalent to 120.09% of the company's total assets (KRW 10,984,933,362) on a consolidated basis as of the end of 2025. The company expects that through this real estate acquisition, it will secure stable cash flow, generate rental income, and enhance medium- to long-term asset value.

The purchase price will be paid through Gyeongnam Pharmaceutical's in-kind contribution for the capital increase subscription. The acquisition reference date and the capital increase payment date are August 10, 2026, with the registration scheduled for August 11 of the same month. Gyeongnam Pharmaceutical, the third-party allotment recipient, was selected after considering the investor's ability to pay and timing, among other factors, in order to achieve management objectives and facilitate prompt fundraising. All newly issued shares are subject to a mandatory one-year lock-up from the date of listing.

Ascendio stated that it received an 'appropriate' opinion from the external evaluation firm Seongwoon Accounting Corporation regarding the fairness of the asset acquisition price.

Meanwhile, if the agenda for a 5-to-1 stock split is approved at the upcoming extraordinary general meeting of shareholders, Ascendio plans to issue a revised filing reflecting the change. Based on the stock split, the number of new shares will change to 3,246,683, the par value to KRW 2,500, and the issue price to KRW 4,035, respectively.