Alpha Holdings, Inc. entered into a share purchase contract to acquire a 13.1% stake in Hansongneotech Co.,Ltd. from Synerworks Co., Ltd. for KRW 33.9 billion.

Alpha Holdings, Inc. (KOSDAQ:A117670) entered into a share purchase contract to acquire a 13.1% stake in Hansongneotech Co.,Ltd. (KOSDAQ:A226440) from Synerworks Co., Ltd. for KRW 33.9 billion on February 21, 2022. Alpha Holdings will acquire 7,730,546 shares of Hansongneotech from Synerworks Co., Ltd. at a price of KRW 4380 per share. KRW 10 billion has been paid as down payment.

In a related transaction, Alpha Holdings, Inc. to acquire 6,976,745 shares in Hansongneotech by way of capital increase. Transactions will be self funded. Post transactions, Alpha Holdings, Inc. will own 14,707,291 shares representing 22.74% stake in Hansongneotech.

Scheduled date for change in ownership is September 30, 2022.