[Disclosure] Alteogen (196170) to List 52,500 Additional Shares Following Stock Option Exercises

Source Fact: Financial Supervisory Service DART / 2026-05-13

Disclosure Type: Additional Listing (Exercise of Stock Options)

💡 3-Second Summary

Alteogen will list an additional 52,500 common shares on May 18, 2026, following the exercise of employee stock options. The exercise price per share is KRW 37,900.

📊 1. [Key Disclosure Details & Figures Summary]

• Type & Number of Additional Shares: 52,500 common shares
• Reason for Listing: Exercise of employee stock options (118th issuance, exercised on May 4, 2026)
• Exercise Price per Share: KRW 37,900
• Listing Date: May 18, 2026
• Total Outstanding Shares After Listing: Common shares will increase to a total of 53,586,343 shares
• Par Value per Share: KRW 500

📈 2. [Expert Insight: Stock Price Impact Analysis]

• Negligible Dilution, Limited Overhang Risk: The 52,500 additional shares represent only about 0.098% of Alteogen’s total outstanding shares (approx. 53.58 million shares). Because the dilution profile is well under 0.1%, any downward pressure on the stock price due to sudden market oversupply will be practically non-existent.
• Potential for Short-Term Profit-Taking: With the exercise price set at KRW 37,900, the option holders are highly likely sitting on substantial valuation gains relative to the current market price. Consequently, some of these shares may hit the open market around the listing date (May 18) for profit-taking, but the volume is too small to cause anything more than minor, transient volatility.
• Neutral Event Detached from Corporate Fundamental: This additional listing is a routine corporate event executing pre-agreed employee compensation, rather than a reflection of any degradation in Alteogen’s pipeline or business operations. It should be treated as a neutral disclosure with no structural impact on the mid-to-long-term stock trend.

📝 Editor’s Comment (by K-STOCK Editor)

While stock option exercise disclosures occasionally trigger overhang anxieties when the gap between the market price and the exercise price is wide, there is absolutely no reason to panic here. The volume hitting the market constitutes less than 0.1% of Alteogen’s total equity. Investors should simply log May 18 in their diaries as a day where a small pocket of profit-taking might occur, without worrying about any structural threat to their investment thesis.

📢 Disclaimer & Source Information

Source: This content was structured and generated based on the official data submitted to the Financial Supervisory Service electronic disclosure system (DART).

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