K Anchor Inc. signed contract to acquire 16.3% stake in Cloud Air Co.,Ltd. (KOSDAQ:A036170) from Jang San Co.,Ltd. and Kim, Byung-jin for KRW 50 billion on September 17, 2021. As per the transaction, K Anchor Inc. will acquire 9.14 million shares at KRW 5473 per shares including 7.21 million and 1.93 million shares from Jang San Co.,Ltd. and Kim, Byung-jin respectively . K Anchor Inc. shall pay KRW 10 billion as down payment, KRW 15 billion payable by October 22, 2021 and remaining KRW 25 billion on completion date of November 2, 2021. Post completion, Jang San Co.,Ltd. and Kim, Byun will have no stake in Cloud Air Co.,Ltd. The Board of Directors has passed the resolution for the transaction. Completion is planned on November 2, 2021.