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#공시 2 posts

Upfront vs Milestone: What a $3.2B Licensing Deal Actually Pays

In a technology licensing deal, only the upfront payment is certain at signing. Korean biotech deals have averaged upfronts of 0.48-5.8% of headline value, while overseas deals range from 1.6% to 82%.

EconomicsSep 2, 20265 min

Korea's Third-Party Share Issues: The 10% Cap and Dilution Math

A third-party allotment can price new shares no more than 10% below the reference price — the tightest cap of the three methods, yet the only one existing shareholders cannot claw back. Here is the arithmetic on a 2 million share issue.

EconomicsAug 1, 20266 min