UI Fund, Growth&Value Fund 6, Namoo Fund 12 and Cherry Hill Fund 1 completed the acquisition of 48.9% in ITEK Semiconductor, Inc. from Nam-Yeong Yu, Yeob Hur and Hyun-Su Yang.
June 25, 2018
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UI Fund, Growth&Value Fund 6, Namoo Fund 12 and Cherry Hill Fund 1 signed contract to acquire 48.9% in ITEK Semiconductor, Inc. (KOSDAQ:A119830) from Nam-Yeong Yu, Yeob Hur and Hyun-Su Yang for KRW 37.5 billion on June 15, 2018. As per terms, 2.6 million shares will be acquired at KRW 14,409 per share. UI Fund will acquire 0.66 million while rest of the buyers will acquire 0.65 million shares individually. Nam-Yeong Yu, Yeob Hur and Hyun-Su Yang will sell 2 million shares, 0.31 million shares and 0.3 million shares. The consideration comprises deposit of KRW 5 billion and balance consideration of KRW 32.5 billion payable by June 26, 2018. Post completion, the sellers will exit from ITEK Semiconductor, Inc. The deal is expected to close on June 26, 2018.
UI Fund, Growth&Value Fund 6, Namoo Fund 12 and Cherry Hill Fund 1 completed the acquisition of 48.9% in ITEK Semiconductor, Inc. (KOSDAQ:A119830) from Nam-Yeong Yu, Yeob Hur and Hyun-Su Yang on June 26, 2018.
ITEK, Inc., formerly ITEK Semiconductor, Inc., is a company engaged in the provision of semiconductor testing services. The Company mainly provides package testing service and wafer testing service. It also provides test development services for system integrated circuit (IC) devices, as well as characterization testing services, including temperature tests for system IC.
UI Fund, Growth&Value Fund 6, Namoo Fund 12 and Cherry Hill Fund 1 completed the acquisition of 48.9% in ITEK Semiconductor, Inc. from Nam-Yeong Yu, Yeob Hur and Hyun-Su Yang.