Cosnine Co., Ltd. (KOSDAQ:A082660) agreed to acquire 15.11% stake in Spofeed Co., Ltd. from Kwangmu Co.,Ltd. (KOSDAQ:A029480) for KRW 8 billion on October 13, 2022. Transaction will be financed from acquirer own funds. For the year ended December 2021, Spofeed reported Total assets of KRW 12 billion, Total debt of KRW 4 billion, total common equity of KRW 8 billion, and Net loss of KRW 632 million.

Transaction is expected to close on November 30, 2022. As of November 30, 2022 ,the transaction is expected to close on December 29, 2022.