Merger with Wizwig Studio, Name Change to Com2uS N, and Stock Consolidation... Strategic Merger for Business Synergy
Merger approval agenda: NP Inc. absorbs Wizwig Studio at a merger ratio of 1:0.5774514, with the surviving entity renamed to Com2uS N Corporation. Merger effective date scheduled for July 14, 2026.
Stock consolidation: Par value changed from KRW 100 to KRW 500 (5:1 consolidation), reducing total shares from current 44,095,775 to 26,558,735 after merger, self-share cancellation, and consolidation. Aimed at stock price stabilization and enterprise value enhancement.
Director and auditor appointments: Appoint Cho Sungwan (Com2uS COO), Cho Jaeduk (current Wizwig CEO), and Noh Jonggeun (Com2uS legal head) as inside directors; Min Joon-ki and Lee Yong-dae as outside directors; Park In-hyuk as auditor. Terms commence upon merger effective date.
Financial status: NP Inc. 2025 consolidated revenue KRW 27.2B, operating loss KRW 3.0B, net loss KRW 3.8B, total equity KRW 28.9B. Wizwig Studio revenue KRW 102.0B, operating loss KRW 9.6B, net loss KRW 41.8B, total equity KRW 132.2B. Both companies remain loss-making.
Appraisal rights: Shareholders opposing merger may file dissent before the June 12 general meeting and exercise appraisal rights from June 12 to July 2. Offered prices: NP KRW 750, Wizwig KRW 459.
Amendments to articles: Increase issuance limit for convertible bonds and bonds with warrants from KRW 30B to KRW 70B, rename outside directors to independent directors, add director liability limitation clause, etc.
[AI Comprehensive Analysis]This merger is evaluated as a portfolio expansion and scale increase through integration into the Com2uS Group, but both companies have been loss-making and further losses may persist post-merger. While stock consolidation reduces outstanding shares, the issuance of new merger shares inevitably dilutes existing shareholders' stakes. Short-term share price volatility is expected.
KOSDAQ Filing Information
Filing: Notice of Convocation of Shareholders' Meeting