KidariStudio, Inc. (KOSE:A020120) agreed to acquire Lezhin Entertainment, Inc. from Jeong-hyuk Kwon and others for approximately KRW 130 billion on December 14, 2020. Under the terms the exchange ratio is 1: 3.8610381 and KidariStudio, Inc. will issue 13.6 million shares as consideration. The consideration is expected to be paid by February 19, 2021. Post acquisition Lezhin Entertainment, Inc. will be wholly owned subsidiary of KidariStudio, Inc. and Kidaris Studio Co., Ltd. will remain as a stock-listed corporation, and Lezhin Entertainment Co., Ltd., will be maintained as a stock-not-listed corporation. For the year ended December 2019, Lezhin Entertainment, Inc. reported total assets of KRW 20 billion and equity of KRW 9.6 billion. The transaction is expected to close on February 23, 2021. KidariStudio, Inc. (KOSE:A020120) completed the acquisition of Lezhin Entertainment, Inc. from Jeong-hyuk Kwon and others on February 23, 2021. The expected listing date of new shares (common shares) of KidariStudio, Inc. issued for the stock exchange by March 15, 2021.