250% Dilution Capital Increase: 10M Shares at KRW 1,000, Change of Control to Satoshi Holdings
Issuance of 10,000,000 common shares at KRW 1,000 per share via third-party allotment, raising KRW 10 billion (80% discount to market price of KRW 5,010).
Use of funds: KRW 4 billion for acquisition of securities (3,672,927 shares of Needs Games at KRW 1,089 per share), KRW 6 billion for operating funds (renewable energy development etc.).
Dilution: outstanding shares increase from 3,991,073 to 13,991,073 (250% increase), significantly reducing existing shareholders' stake.
Change of control: majority shareholder changes from The Cube N to Satoshi Holdings (allocated 10,000,000 shares) on payment date.
All new shares subject to 1-year lock-up.
Target Needs Games (2024: equity KRW 68M, net loss KRW 969M) near capital impairment; Satoshi Holdings (2024: equity KRW 2,111.7B, net loss KRW 1,036.7B).
Needs Games valuation: Donghyun Accounting Corp, KRW 1,084 per share (as of Oct 31, 2025).
KOSDAQ Filing Information
Filing: [Correction of Description] Report on Major Events (Decision on Paid-in Capital Increase)