Genexine, Inc. (KOSDAQ:A095700) agreed to acquire ToolGen Incorporated (XKON:A199800) for approximately KRW 350 billion on June 19, 2019. Genexine, Inc. will issue one share for every 1.2 share of ToolGen Incorporated. Genexine and ToolGen will merge to create a single entity.

Post completion, ToolGen Incorporated will be delisted from Stock Exchange and new combined entity will operate under the name of ToolGenexine, which will start its trading on KOSDAQ from September 30, 2019. The Board of Directors of Genexine, Inc. have approved the transaction on June 19, 2019. The transaction was approved by the shareholders of ToolGen Incorporated on July 30, 2019.

Completion is expected to take place on August 31, 2019.