NEXUS completes acquisition of 89.03% stake in Onestore via equity and debt financing, raising dilution concerns

NEXUS announced the completion of its acquisition of 20,247,990 common shares representing an 89.03% stake in Onestore Co., Ltd. for 62.6 billion KRW on June 29, 2026.
The acquisition was funded through a third-party allotment capital increase of 39.5 billion KRW issuing 17,171,788 new shares and corporate bond issuances totaling 23.1 billion KRW, resulting in a roughly 27% increase in total outstanding shares and significant dilution for existing shareholders.
Sellers include major IT companies such as SK Square, Naver, Steel Number One, and Krafton, lending high credibility to the transaction, but the high dilution rate and increased debt burden are expected to weigh on the stock price in the short term.
[AI Summary]NEXUS expanded its business portfolio by acquiring 89% of Onestore, but the 27% dilution from the capital increase is a major burden for existing shareholders. The key investment point is whether the acquired entity's profitability and synergies will positively impact the stock price in the long term.