N Citron, Inc. cancelled the acquisition of 7i Holdings Co., Ltd. from Taeho Kim.
December 29, 2019
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N Citron, Inc. (KOSDAQ:A101400) agreed to acquire 7i Holdings Co., Ltd. from Taeho Kim for KRW 10 billion on April 24, 2019. N Citron, Inc. will acquire 2000 shares. Transaction will be financed through issuance of convertible bonds and own funds of N Citron, Inc. In 2018, 7i Holdings Co., Ltd. has total assets of KRW 31.7 billion. Transaction was resolved by Board of Directors on April 24, 2019. Completion is expected on April 26, 2019.
N Citron, Inc. (KOSDAQ:A101400) cancelled the acquisition of 7i Holdings Co., Ltd. from Taeho Kim on December 30, 2019. The transaction is terminated due to failure of execution of the special clause on the achievement of Article 10 of the eighth convertible bond acquisition contract.
N CITRON, INC., formerly NEOFIDELITY, INC. is a Korea-based company engaged in the manufacture and sale of full digital audio amplifier solution products. The Company produces digital audio amplifier chips, including NTP-7XXX series, NTP-3XXX series, NTP-2XXX series and NSP series for flat panel display (FPD) televisions (TVs), desktop audios, monitor TVs, home theaters and other digital products. The Company distributes its products within domestic market and to overseas markets, including Taiwan, Japan and China. The Company has one Hong Kong-based subsidiary, NF Industries Company Limited.
N CITRON, INC. 