Lumimicro Co., Ltd (KOSDAQ:A082800) agreed to acquire DiNonA Inc. (XKON:A086080) for approximately KRW 130 billion on September 9, 2019. Lumimicro Co., Ltd will issue its 3.9422360 shares for each share of DiNonA. Lumimicro Co., Ltd will also issue its 3.9422360 shares for each preferred share of DiNonA.

The estimated price for DiNonA is KRW 6000 per share. A total of 92.6 million common shares will be issued Lumimicro. Payment will be done within one month from the date of the end of the billing period within February 6, 2020.

Post completion, DiNonA Inc will become wholly owned subsidiary of Lumimicro. The transaction is subject to approval by board and shareholders of Lumimicro, if it is rejected the transaction will cease to become effective. The transaction is resolved by the board of Lumimicro.

The transaction is expected to complete on December 3, 2019. As of October 31, 2019, the closing date is extended to January 20, 2020. BDO Daejoo LLC acted as external evaluation agency.