N Point Investment Co., Ltd. and Yoo Seok-woo agreed to acquire 18.9% stake in Orbitech Co., Ltd. (KOSDAQ:A046120) from AeroSpace Technology of Korea Inc. (KOSDAQ:A067390) for KRW 23.4 billion on December 7, 2020. The consideration will be paid in tranches. Under the terms, AeroSpace Technology of Korea Inc. will sell 4.5 million shares of Orbitech at an offer price of KRW 5,206.98 per share. On January 7, 2021, as per an amended contract, instead of Kyle Partners, LLC, N Point Investment Co., Ltd. will acquire stake. Post completion, AeroSpace Technology of Korea, Kyle Partners, LLC and Yoo Seok-woo will hold 0%, 8.07% and 10.82% stake in Orbitech respectively. The transaction is expected to close on February 5, 2021.

N Point Investment Co., Ltd. and Yoo Seok-woo completed the acquisition of 18.9% stake in Orbitech Co., Ltd. (KOSDAQ:A046120) from AeroSpace Technology of Korea Inc. (KOSDAQ:A067390) on February 5, 2021. The transaction has been funded from own funds of KRW 13.404 billion.