APACT's Second Amendment to Stock Transfer Agreement Involving Change of Largest Shareholder, Payment and Closing Dates Delayed
APACT has entered into a second amendment to the stock transfer agreement involving the change of its largest shareholder from Mutual Growth to Dynamic Growth, delaying the payment and closing dates to June 22, 2026.
The shares subject to transfer are 23,440,780 shares representing 55.33% of total outstanding shares, with a per-share price of 5,249 KRW, a significant discount to the current market price of 12,130 KRW. This does not cause dilution to existing shareholders, but the discounted transfer of a large block warrants attention.
The prospective new largest shareholder Dynamic Growth is a newly established entity incorporated in February 2026 with total assets of only 10 million KRW, and its sole shareholder is a private equity fund, Aurora Mutual Growth Project Fund No.3 Private Investment Partnership. This raises uncertainty regarding transparency and financial stability of the controlling party.
As the transaction is a secondary share transfer without new issuance, there is no capital dilution. However, the change in control could impact future corporate value.
[AI Summary]APACT's change in largest shareholder agreement has been amended for the second time, delaying the closing schedule. The significant discount of the transfer price relative to market price and the acquisition by a newly formed entity pose governance risks. While no immediate dilution to existing shareholders, monitoring of management stability and strategic direction is advisable.
KOSDAQ Filing Information
[Correction of Description] Execution of Stock Transfer Agreement Involving Change of Largest Shareholder