[8-K] EXICURE, INC. Reports Material Event

Rhea-AI Filing Summary

Exicure, Inc. reported that on November 10, 2025 it redeemed in full 4.5 billion KRW (approximately $3.125 million) of 2.90% Convertible Bonds due 2028. These bonds were originally issued on April 30, 2025 by its wholly owned subsidiary KC Creation Co., Ltd. and were held entirely by Exicure, with no third-party holders involved. The redemption was funded through internal cash transfers as part of an effort to simplify intercompany financing and secure liquidity for ongoing biotechnology operations. Because this is an internal transaction between Exicure and its subsidiary, it will be eliminated in consolidation and is not expected to have a material impact on Exicure’s consolidated financial statements.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________

FORM 8-K

____________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 10, 2025

____________________

Exicure, Inc.

(Exact Name of Registrant as Specified in its Charter)

____________________

Delaware			001-39011			81-5333008
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)

400 Seaport Court, Suite 102
Redwood City, CA						94063
(Address of Principal Executive Offices)						(Zip Code)

Registrant’s telephone number, including area code: (847) 673-1700

____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

XCUR

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 8.01    Other Events

Early Redemption of Convertible Bonds

On November 10, 2025, Exicure, Inc. (the “Company”) redeemed in full the 4.5 billion KRW, approximately $3.125 million USD, aggregate principal amount of 2.90% Convertible Bonds due 2028 (the “Bonds”) previously issued by its wholly owned subsidiary, KC Creation Co., Ltd. (“KC Creation”), and held by the Company.

The Bonds were originally issued on April 30, 2025 as part of an internal capital structure strategy and are convertible into shares of KC Creation common stock under certain conditions. The early redemption was executed and funded through internal cash transfers. No third-party holders were involved in the transaction.

This redemption is part of the Company’s ongoing efforts to simplify its intercompany financing arrangements and

secure liquidity for the continued operations of the Company and development of its biotechnology business. The transaction will be eliminated in consolidation and is not expected to have a material impact on the Company’s consolidated financial statements.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.						Description
104						Cover Page Interactive Data File (Embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 17, 2025			EXICURE, INC.
			(registrant)
			By:			/s/ Andy Yoo
						Andy Yoo
						Chief Executive Officer

FAQ

What did Exicure (XCUR) announce regarding its convertible bonds?

Exicure announced that on November 10, 2025 it redeemed in full 4.5 billion KRW (approximately $3.125 million) aggregate principal amount of 2.90% Convertible Bonds due 2028 issued by its wholly owned subsidiary KC Creation Co., Ltd. and held by the company.

What are the key terms of the Exicure 2.90% Convertible Bonds that were redeemed?

The redeemed securities were 2.90% Convertible Bonds due 2028, with an aggregate principal amount of 4.5 billion KRW (approximately $3.125 million), issued on April 30, 2025 by KC Creation Co., Ltd. and convertible into KC Creation common stock under certain conditions.

How was the early redemption of the Exicure (XCUR) convertible bonds funded?

The early redemption was executed and funded through internal cash transfers within Exicure and its wholly owned subsidiary KC Creation Co., Ltd., with no external financing described.

Were any third-party investors affected by Exicure’s early bond redemption?

No. The company stated that the bonds were held by Exicure itself and that no third-party holders were involved in the transaction.

Why did Exicure (XCUR) redeem the convertible bonds early?

Exicure indicated that the early redemption is part of its ongoing efforts to simplify intercompany financing arrangements and secure liquidity for continued operations and development of its biotechnology business.

What impact will the bond redemption have on Exicure’s financial statements?

The company stated that the transaction will be eliminated in consolidation and is not expected to have a material impact on Exicure’s consolidated financial statements.