New Risk • May 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩5.3b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩5.3b free cash flow). Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (₩5.41b market cap, or US$3.96m). Minor Risk Revenue is less than US$5m (₩5.5b revenue, or US$4.0m). New Risk • May 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₩4.17b (US$3.07m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings have declined by 28% per year over the past 5 years. Market cap is less than US$10m (₩4.17b market cap, or US$3.07m). Minor Risk Revenue is less than US$5m (₩3.4b revenue, or US$2.5m). New Risk • Feb 07
New major risk - Negative shareholders equity The company has negative equity. Total equity: -₩1.3b This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-₩1.3b). Earnings have declined by 40% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 17x increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩120.6b market cap, or US$90.9m). Announcement • Jan 24
BDI CO., LTD. announced that it expects to receive KRW 2 billion in funding BDI CO., LTD. announced a private placement of 4,000,000 common shares at an issue price of KRW 500 per share for the gross proceeds of KRW 2,000,000,000 on January 23, 2024. The transaction will include participation from new investor LB Corporation. The transaction has been approved by the shareholders of the company and is expected to close on February 23, 2024. The shares are restricted to a hold period of 1 year. Announcement • Jan 22
BDI CO., LTD. announced that it has received KRW 8.099998751 billion in funding On January 21, 2022, BDI CO., LTD. closed the transaction. The company has amended the terms of the transaction and issued 5,789,849 shares for gross proceeds of KRW 8,099,998,751 in the transaction. Announcement • Jun 10
BDI CO., LTD. has completed a Follow-on Equity Offering in the amount of KRW 45.7 billion. BDI CO., LTD. has completed a Follow-on Equity Offering in the amount of KRW 45.7 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: KRW 4570 Reported Earnings • Apr 03
Full year 2020 earnings released: ₩6,049 loss per share (vs ₩8.00 loss in FY 2019) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ₩196.5b (up 53% from FY 2019). Net loss: ₩94.9b (loss widened ₩94.8b from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Nov 02
New 90-day high: ₩6,480 The company is up 4.0% from its price of ₩6,250 on 04 August 2020. The South Korean market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 5.0% over the same period. Announcement • Sep 21
Il-Kang Kim, Chief Executive Officer of BDI CO., LTD. completed the acquisition of 22.5% stake in BDI CO., LTD. (KOSDAQ:A148140) from Seungman Ahn and Kyung-Soon Lee for KRW 38 billion. Il-Kang Kim, Chief Executive Officer of BDI CO., LTD. signed an agreement to acquire 26.66% stake in BDI CO., LTD. (KOSDAQ:A148140) from Seungman Ahn and Kyung-Soon Lee for KRW 45 billion on July 1, 2020. Under the terms, Il-Kang Kim will acquire 4.5 million shares at KRW 10,000 per share. Seungman Ahn will sell 3.9 million shares and Kyungsoon Lee will sell 0.56 million shares. Prior to the transaction, Seungman Ahn held 5.3 million shares amounting to 31.47% stake and after the transaction, Seungman Ahn will hold 1.4 million shares amounting to 8.15% stake, Lee Kyung-soon will hold no stake and Kim Il-gang will hold 4.5 million shares in BDI CO., LTD. The payment will be paid as KRW 28 billion on July 2, 2020 and KRW 17 billion on July 31, 2020. KRW 28 billion was paid on July 2, 2020, with the balance to be paid on July 31, 2020. As on July 31, 2020, the balance payment of KRW 17 billion will be paid on December 31, 2020. Transaction is expected to close on July 2, 2020. As on July 2, 2020, sale of 3.8 million shares were completed and the remaining shares 0.7 million shares will be transferred on December 31, 2020.
Il-Kang Kim, Chief Executive Officer of BDI CO., LTD. completed the acquisition of 22.5% stake in BDI CO., LTD. (KOSDAQ:A148140) from Seungman Ahn and Kyung-Soon Lee for KRW 38 billion on July 31, 2020. The changes in agreement has been signed by the parties. As per change agreement, Seungman Ahn will sold 3.24 million shares. Announcement • Jul 18
BDI CO., LTD. announced that it has received KRW 10.1 billion in funding On July 15, 2020, BDI CO., LTD. (KOSDAQ:A148140) closed the transaction. Announcement • Jul 07
BDI CO., LTD. (KOSDAQ:A148140) entered into an agreement to acquire Eleison Pharmaceuticals Inc. for $20.9 million. BDI CO., LTD. (KOSDAQ:A148140) entered into an agreement to acquire Eleison Pharmaceuticals Inc. for $20.9 million on July 6, 2020. The transaction is expected to close on August 3, 2020. The acquisition will help the BDI to expand into a new business area and maximize its corporate value.