[SCHEDULE 13D/A] EXICURE, INC. SEC Filing
Exicure HiTron Inc. reports owning 3,333,333 shares of Exicure, Inc. common stock, equal to approximately 52.8% of the outstanding shares based on 6,317,793 shares outstanding as of August 5, 2025. The filing amends prior Schedule 13D disclosures and reports corporate actions: on September 8, 2025 four directors resigned and, after nomination by the Reporting Person, the board appointed two nominees so that a majority of the board remains composed of the Reporting Person's nominees. The Reporting Person made no other share transactions in the prior 60 days. Separately, on September 18, 2025 Exicure HiTron entered into Share Pledge Agreements, pledging 1,600,000 shares as collateral to two creditors in connection with a private placement of convertible bonds; voting and dividend rights on the pledged shares remain with the Reporting Person unless an event of default occurs.
Exicure HiTron Inc. riferisce di possedere 3.333.333 azioni ordinarie di Exicure, Inc., pari a circa 52,8% delle azioni in circolazione basato su 6.317.793 azioni in circolazione al 5 agosto 2025. Il deposito modifica le precedenti divulgazioni Schedule 13D e segnala azioni aziendali: il 8 settembre 2025 sono dimessi quattro direttori e, su indicazione della Persona che segnala, il consiglio ne ha nominati due candidati in modo che la maggioranza del consiglio rimanga composta dai candidati della Persona che segnala. La Persona che segnala non ha effettuato altre operazioni su azioni nei 60 giorni precedenti. Separatamente, il 18 settembre 2025 Exicure HiTron ha stipulato Accordi di Pegno di Azioni, impegnando 1.600.000 azioni come garanzia a due creditori in relazione a una collocazione privata di obbligazioni convertibili; i diritti di voto e di dividendo sulle azioni date in pegno restano alla Persona che segnala a meno che non si verifichi un evento di inadempienza.
Exicure HiTron Inc. informa que posee 3.333.333 acciones ordinarias de Exicure, Inc., equivalentes a aproximadamente 52,8% de las acciones en circulación basándose en 6.317.793 acciones en circulación al 5 de agosto de 2025. La presentación modifica divulgaciones previas de Schedule 13D y reporta acciones corporativas: el 8 de septiembre de 2025 renunciaron cuatro directores y, tras la nominación por la Persona Informante, la junta designó a dos candidatos para que la mayoría de la junta siga estando compuesta por los candidatos de la Persona Informante. La Persona Informante no realizó otras transacciones de acciones en los últimos 60 días. Por separado, el 18 de septiembre de 2025 Exicure HiTron entró en Acuerdos de Prenda de Acciones, pignorando 1.600.000 acciones como garantía a dos acreedores en relación con una colocación privada de bonos convertibles; los derechos de voto y de dividendos sobre las acciones empeñadas permanecen con la Persona Informante a menos que ocurra un incumplimiento.
Exicure HiTron Inc.은 Exicure, Inc.의 보통주 3,333,333주를 보유하고 있어 발행주식 총수의 약 52.8%에 해당하며, 2025년 8월 5일 기준 발행주식 수 6,317,793주를 기준으로 합니다. 제출 서류는 이전 Schedule 13D 공시를 수정하고 기업 행위를 보고합니다: 2025년 9월 8일 네 명의 이사가 사임했고, 보고자에 의한 지명 후 이사회는 두 명의 후보를 임명하여 이사회 다수가 보고자의 후보로 구성되도록 했습니다. 지난 60일 동안 보고자는 추가 주식 거래를 하지 않았습니다. 또한 2025년 9월 18일 Exicure HiTron은 주식 담보 계약을 체결하여 1,600,000주를 두 채권자에게 담보로 제공했고, 비공개로 발행되는 주식전환사채와 관련이 있습니다. 담보 주식에 대한 의결권 및 배당권은 위반 사건이 발생하지 않는 한 보고자에게 남아 있습니다.
Exicure HiTron Inc. déclare détenir 3 333 333 actions ordinaires d’Exicure, Inc., soit environ 52,8% des actions en circulation sur la base de 6 317 793 actions en circulation au 5 août 2025. Le dépôt modifie les divulgations antérieures du Schedule 13D et signale des actions de l’entreprise : le 8 septembre 2025, quatre administrateurs ont démissionné et, après nomination par la Personne déclarant, le conseil a nommé deux candidats afin que la majorité du conseil reste composée des candidats de la Personne déclarant. La Personne déclarant n’a effectué aucune autre transaction d’actions au cours des 60 derniers jours. Par ailleurs, le 18 septembre 2025, Exicure HiTron a conclu des Accords de Nantissement d’Actions, plaçant en gage 1 600 000 actions auprès de deux créanciers dans le cadre d’une émission privée d’obligations convertibles ; les droits de vote et de dividende sur les actions nanties restent détenus par la Personne déclarant, sauf en cas de défaut.
Exicure HiTron Inc. meldet, 3.333.333 Aktien der Stammaktie von Exicure, Inc. zu halten, was ungefähr 52,8% der ausstehenden Aktien entspricht, basierend auf 6.317.793 Aktien im Umlauf am 5. August 2025. Die Einreichung ändert frühere Schedule-13D Offenlegungen und meldet Unternehmensmaßnahmen: Am 8. September 2025 kündigten vier Direktoren, und nach Nominierung durch die meldende Person hat der Vorstand zwei Kandidaten ernannt, damit die Mehrheit des Vorstands aus den Kandidaten der meldenden Person besteht. Die meldende Person hat in den letzten 60 Tagen keine weiteren Aktiengeschäfte getätigt. Separat hat Exicure HiTron am 18. September 2025 Aktienpfändungsvereinbarungen getroffen und 1.600.000 Aktien als Sicherheit an zwei Gläubiger im Zusammenhang mit einer privaten Platzierung von Wandelanleihen übereignet; Stimm- und Dividendenrechte an den verpfändeten Aktien bleiben bei der meldenden Person, es sei denn, es tritt ein Verzug ein.
Exicure HiTron Inc. تبلغ عن امتلاكها 3,333,333 سهماً عادياً من Exicure, Inc.، ما يعادل نحو 52.8% من الأسهم المتداولة بناءً على 6,317,793 سهماً قائماً حتى 5 أغسطس 2025. يبلغ التقديم عن تعديل إفصاءات Schedule 13D السابقة ويبلغ عن إجراءات الشركة: في 8 سبتمبر 2025 استقال أربعة مديرين وفي أعقاب الترشيح من الشخص المبلغ، قامت المجلس بتعيين ما يني اثنين من المرشحين بحيث تبقى أغلبية المجلس من المرشحين التابعين للشخص المبلغ. لم تقم الشخص المبلغ بأي معاملات أسهم أخرى خلال آخر 60 يوماً. وبشكل منفصل، في 18 سبتمبر 2025 دخلت Exicure HiTron في اتفاقيات رهن الأسهم، راغمة 1,600,000 سهم كضمان لديّْنين اثنين في إطار طرح خاص لسندات قابلة للتحويل؛ تبقى حقوق التصويت والتوزيع على الأسهم المرهونة مع الشخص المبلغ ما لم يحدث حدث افراط/خلف.
Exicure HiTron Inc. 报告其持有 Exicure, Inc. 普通股 3,333,333 股，约占发行在外股份的 52.8%，以截至 2025 年 8 月 5 日的在外流通股数 6,317,793 股为基准。该备案修订了先前的 Schedule 13D 披露并报告公司行动：在 2025 年 9 月 8 日，四名董事辞任，经过报告人提名，董事会任命了两名提名人，使董事会多数仍由报告人的提名人组成。报告人过去 60 天内未有其他股票交易。另在 2025 年 9 月 18 日，Exicure HiTron 签订了 股票质押协议，将 1,600,000 股作为抵押给两名债权人，以进行私募发行的可转换债券；质押股的投票权和股息权在未发生违约事件前仍归属于报告人。
- Majority ownership (52.8%) giving the Reporting Person de facto control of Exicure's board and strategic decisions
- Board composition secured by appointment of Reporting Person nominees, creating governance stability from the acquirer's perspective
- 1,600,000 shares pledged as collateral for convertible bonds, creating potential creditor enforcement risk if an event of default occurs
- Material ownership concentration could raise minority shareholder concerns and reduce independent governance oversight
Insights
TL;DR: Reporting Person controls a majority of Exicure's shares and has secured board representation, consolidating control over corporate decisions.
The Reporting Person's beneficial ownership of 52.8% establishes de facto control of the issuer and the recent board changes — resignations followed by appointment of Reporting Person nominees — confirm governance control. This concentration simplifies strategic decision-making for the controlling holder and reduces the likelihood of competing shareholder blocs. The continued retention of voting rights on pledged shares preserves control unless a default triggers creditor remedies. Materiality is high because a >50% holder can direct corporate strategy, board composition, and certain corporate transactions.
TL;DR: Pledging 1,600,000 shares as collateral against convertible bonds introduces creditor enforcement risk that could affect share ownership and governance if default occurs.
The Pledge Agreements secure obligations to two creditors in connection with a private convertible bond placement. While voting and dividend rights remain with the Reporting Person absent default, the pledged 1.6M shares represent a meaningful portion of the Reporting Person's stake and could be seized or transferred to creditors upon default, materially altering ownership and potentially diluting or shifting control. Investors should note the existence of secured financing tied to equity collateral; the filing does not disclose covenant terms, default events, or the size and structure of the convertible bonds, limiting full risk assessment.
Exicure HiTron Inc. riferisce di possedere 3.333.333 azioni ordinarie di Exicure, Inc., pari a circa 52,8% delle azioni in circolazione basato su 6.317.793 azioni in circolazione al 5 agosto 2025. Il deposito modifica le precedenti divulgazioni Schedule 13D e segnala azioni aziendali: il 8 settembre 2025 sono dimessi quattro direttori e, su indicazione della Persona che segnala, il consiglio ne ha nominati due candidati in modo che la maggioranza del consiglio rimanga composta dai candidati della Persona che segnala. La Persona che segnala non ha effettuato altre operazioni su azioni nei 60 giorni precedenti. Separatamente, il 18 settembre 2025 Exicure HiTron ha stipulato Accordi di Pegno di Azioni, impegnando 1.600.000 azioni come garanzia a due creditori in relazione a una collocazione privata di obbligazioni convertibili; i diritti di voto e di dividendo sulle azioni date in pegno restano alla Persona che segnala a meno che non si verifichi un evento di inadempienza.
Exicure HiTron Inc. informa que posee 3.333.333 acciones ordinarias de Exicure, Inc., equivalentes a aproximadamente 52,8% de las acciones en circulación basándose en 6.317.793 acciones en circulación al 5 de agosto de 2025. La presentación modifica divulgaciones previas de Schedule 13D y reporta acciones corporativas: el 8 de septiembre de 2025 renunciaron cuatro directores y, tras la nominación por la Persona Informante, la junta designó a dos candidatos para que la mayoría de la junta siga estando compuesta por los candidatos de la Persona Informante. La Persona Informante no realizó otras transacciones de acciones en los últimos 60 días. Por separado, el 18 de septiembre de 2025 Exicure HiTron entró en Acuerdos de Prenda de Acciones, pignorando 1.600.000 acciones como garantía a dos acreedores en relación con una colocación privada de bonos convertibles; los derechos de voto y de dividendos sobre las acciones empeñadas permanecen con la Persona Informante a menos que ocurra un incumplimiento.
Exicure HiTron Inc.은 Exicure, Inc.의 보통주 3,333,333주를 보유하고 있어 발행주식 총수의 약 52.8%에 해당하며, 2025년 8월 5일 기준 발행주식 수 6,317,793주를 기준으로 합니다. 제출 서류는 이전 Schedule 13D 공시를 수정하고 기업 행위를 보고합니다: 2025년 9월 8일 네 명의 이사가 사임했고, 보고자에 의한 지명 후 이사회는 두 명의 후보를 임명하여 이사회 다수가 보고자의 후보로 구성되도록 했습니다. 지난 60일 동안 보고자는 추가 주식 거래를 하지 않았습니다. 또한 2025년 9월 18일 Exicure HiTron은 주식 담보 계약을 체결하여 1,600,000주를 두 채권자에게 담보로 제공했고, 비공개로 발행되는 주식전환사채와 관련이 있습니다. 담보 주식에 대한 의결권 및 배당권은 위반 사건이 발생하지 않는 한 보고자에게 남아 있습니다.
Exicure HiTron Inc. déclare détenir 3 333 333 actions ordinaires d’Exicure, Inc., soit environ 52,8% des actions en circulation sur la base de 6 317 793 actions en circulation au 5 août 2025. Le dépôt modifie les divulgations antérieures du Schedule 13D et signale des actions de l’entreprise : le 8 septembre 2025, quatre administrateurs ont démissionné et, après nomination par la Personne déclarant, le conseil a nommé deux candidats afin que la majorité du conseil reste composée des candidats de la Personne déclarant. La Personne déclarant n’a effectué aucune autre transaction d’actions au cours des 60 derniers jours. Par ailleurs, le 18 septembre 2025, Exicure HiTron a conclu des Accords de Nantissement d’Actions, plaçant en gage 1 600 000 actions auprès de deux créanciers dans le cadre d’une émission privée d’obligations convertibles ; les droits de vote et de dividende sur les actions nanties restent détenus par la Personne déclarant, sauf en cas de défaut.
Exicure HiTron Inc. meldet, 3.333.333 Aktien der Stammaktie von Exicure, Inc. zu halten, was ungefähr 52,8% der ausstehenden Aktien entspricht, basierend auf 6.317.793 Aktien im Umlauf am 5. August 2025. Die Einreichung ändert frühere Schedule-13D Offenlegungen und meldet Unternehmensmaßnahmen: Am 8. September 2025 kündigten vier Direktoren, und nach Nominierung durch die meldende Person hat der Vorstand zwei Kandidaten ernannt, damit die Mehrheit des Vorstands aus den Kandidaten der meldenden Person besteht. Die meldende Person hat in den letzten 60 Tagen keine weiteren Aktiengeschäfte getätigt. Separat hat Exicure HiTron am 18. September 2025 Aktienpfändungsvereinbarungen getroffen und 1.600.000 Aktien als Sicherheit an zwei Gläubiger im Zusammenhang mit einer privaten Platzierung von Wandelanleihen übereignet; Stimm- und Dividendenrechte an den verpfändeten Aktien bleiben bei der meldenden Person, es sei denn, es tritt ein Verzug ein.
FAQ
How many Exicure (XCUR) shares does Exicure HiTron Inc. report owning?
Does Exicure HiTron control the board of Exicure (XCUR)?
Were any shares pledged by Exicure HiTron as collateral?
Do the creditors have voting rights on the pledged shares now?
Did the Reporting Person trade shares in the past 60 days?
