Genie Music Corporation (KOSDAQ:A043610) board resolved to acquire 24.743535% stake in Juice Co., Ltd. on September 21, 2022. The consideration will be paid in combination of cash and equity. Genie Music Corporation will acquire 17,921 existing shares and 20,202 new shares.

For the period ended December 31, 2022, Juice Co., ltd reported total assets of KRW 258 million, Total stock holder equity of KRW 6 million, Total sales revenue of KRW 94 million, and Net loss of KRW 262 million. Transaction is expected to be closed on October 4, 2022.