SL Vionics Co., Ltd. (KOSDAQ:A214310) agreed to acquire Woosung Industry from Woosung Corporation Co.,Ltd. for KRW 16 billion on April 20, 2022. Consideration includes KRW 7 billion paid on April 20, 2022, KRW 19 million scheduled to be paid on April 28, 2022, KRW 3.5 billion Payment on May 11, 2022 and KRW 5.5 billion to be paid within July 28, 2022. Funding includes self-funds, borrowings and self-debt payment. For the year 2021, Woosung Industry reported Total assets of KRW 7.7 billion, total debt of KRW 1.3 billion, Total equity of KRW 6.3 billion and Net income of KRW 1.6 billion.

As of June 28, 2022, the expected closing date will be July 28, 2022 and accordingly the 4th payment installment is July 28, 2022. As of July 28, 2022, The transaction is expected to complete on August 31, 2022. The balance payment of KRW 5.5 billion will be paid on August 31, 2022. As of August 29, 2022, The transaction is expected to complete on today. The balance payment of KRW 5.5 billion will be paid on August 31, 2022.