Cellid hit its daily price ceiling on the 22nd after announcing a third-party allotment of 4,796,163 new common shares to Huniverse Global at 2,085 Korean won each. The board-approved offering will raise 9,999,999,855 won, or approximately $7.3 million, for working capital and change Cellid’s largest shareholder once payment is completed on November 9. Cellid traded at 2,885 won, up 665 won, or 29.95%, as of 9:49 a.m. on the Korea Exchange. Huniverse Global, a precision medicine platform company launched in 2017 through a national strategic project under Korea University Medical Center, is acquiring the stake for management participation. Cellid has also signed a Management Control Transfer Agreement under which four directors and one auditor designated by Huniverse Global will be appointed if the investor pays for the new shares and attracts additional investment such as convertible bonds. The new shares are scheduled to be listed on November 30, while the effects of dilution and the management change on existing shareholders remain to be assessed.