T Scientific Co.,Ltd (KOSDAQ:A057680) signed a contract to acquire It Nomads Co., Ltd from Kim Seongjin and others for KRW 21 billion on December 16, 2022. T Scientific Co.,Ltd will acquire 0.3 million shares of It Nomads Co., Ltd in the deal. Kim Seongjin will sell 0.135 million shares in the deal.

An amount of KRW 2.1 billion is paid on December 16, 2022, and the remaining amount of KRW 18.9 billion will be paid on the completion date. Post-completion, T Scientific Co.,Ltd will own 100% stake in It Nomads Co., Ltd. It Nomads Co., Ltd had total assets of KRW 22.4 billion, net assets of KRW 12.4 billion and net income of KRW 2.5 billion in 2021. The Board of Directors of T Scientific Co.,Ltd have resolved the deal on December 16, 2022.

The deal is expected to close on January 16, 2023.