RN2 Technologies Sells Entire Stake in RN2TX for 14.9B KRW, Securing Cash to Strengthen Balance Sheet
RN2 Technologies has decided to sell all 8,065,867 shares (100% stake) in its affiliate RN2TX to Withwin Investment Association No. 91 and Skyhammer No. 1 Investment Association for a total of KRW 14.92 billion.
The sale price per share is KRW 1,850, which is approximately 56.5% of RN2TX's book value (equity of about KRW 26.4 billion), but the external valuation firm Samdo Accounting Corporation deemed it appropriate.
Withwin Investment Association No. 91 completed full payment on May 28, 2026, becoming the largest shareholder of RN2TX. Skyhammer No. 1 Investment Association has paid part of the interim payment, but if the remaining KRW 1.85 billion is not paid by June 5, 2026, the contract may be terminated, posing a risk.
The purpose of the transfer is to secure funds through the sale of a related company. RN2 Technologies will receive approximately KRW 14.9 billion in cash, improving its financial health, and the disposal of a loss-making affiliate is expected to positively impact consolidated profitability.
[AI Comprehensive Analysis]Although RN2 Technologies sold RN2TX at a discount to book value, the decision is positive given the subsidiary's persistent losses, as it secures cash and improves the balance sheet. However, the risk of default by Skyhammer No. 1 Investment Association and the discounted sale price may weigh on short-term stock performance.
KOSDAQ Filing Information
Filing: [Correction of Description] Report on Major Matters (Decision on Transfer of Stocks and Investment Securities of Other Corporations)