NSN Co., Ltd. (KOSDAQ:A031860) agreed to acquire 7.5% stake in Treasure Hunter Co., Ltd. from DSC Dream Fourth Fund For Growth Ladder; KT-DSC Creative Economy Youth Entrepreneurship Investment Fund; Global ICT Convergence Fund; and Superman Fund 1 managed by DSC Investment Inc. (KOSDAQ:A241520) for KRW 4 billion on July 26, 2017. DSC Dream Fourth Fund For Growth Ladder; KT-DSC Creative Economy Youth Entrepreneurship Investment Fund; Global ICT Convergence Fund; and Superman Fund 1 each will sell 618 common shares for KRW 723 million and 244 redeemable preferred stock for KRW 285 million. In related transactions, NSN Co., Ltd. will acquire 25.97% stake in Treasure Hunter Co., Ltd. from FourThirtyThree Inc. and NSN Co., Ltd. will acquire redeemable preferred stock of Treasure Hunter Co., Ltd. from 2013 Kolon-Growth Ladder Startup Investment Fund and NP Equity Partners Limited.

NSN Co., Ltd. will use own funds and borrowings/loans to fund the acquisition. Treasure Hunter Co., Ltd. reported revenues of KRW 5.52 billion and net loss of KRW 6.1 billion for the year ended December 31, 2016. As at December 31, 2016, Treasure Hunter had total assets of KRW 8.65 billion and net assets of KRW 7.94 billion.

Board of Directors of NSN Co., Ltd. made a resolution in favor of the transaction on July 26, 2017. The scheduled date of acquisition is September 5, 2017. Hanul Accounting Corporation acted as external rating institution.