Topazio New Technology Association No. 23, Anello New Technology Association No. 22, Bledor New Technology Association No. 24 and IASYS New Technology Association No. 25 completed the acquisition of 15.53% stake in Hwail Pharmaceutical Co.,Ltd. from CrystalGenomics, Inc..
January 10, 2021
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Topazio New Technology Association No. 23, Anello New Technology Association No. 22, Bledor New Technology Association No. 24 and IASYS New Technology Association No. 25 signed a contract to acquire 15.53% stake in Hwail Pharmaceutical Co.,Ltd. (KOSDAQ:A061250) from CrystalGenomics, Inc. (KOSDAQ:A083790) for KRW 32.4 billion on November 19, 2020. CrystalGenomics, Inc. will sell 3 million shares at KRW 10,800 per share. Topazio New Technology Association No. 23, Anello New Technology Association No. 22 and Bledor New Technology Association No. 24 will acquire 4.14% stake each amounting to 0.8 million shares each and IASYS New Technology Association No. 25 will acquire 3.11% stake amounting to 0.6 million shares. Topazio New Technology Association No. 23, Anello New Technology Association No. 22 and Bledor New Technology Association No. 24 will pay 10% of the contract amount amounting to KRW 864 million each and IASYS New Technology Association No. 25 will pay KRW 648 million on November 19, 2020. Topazio New Technology Association No. 23, Anello New Technology Association No. 22 and Bledor New Technology Association No. 24 will pay balance amounting to KRW 7.8 billion each on January 31, 2021 and IASYS New Technology Association No. 25 will pay balance amounting to KRW 5.8 billion on November 25, 2020. As on December 23, 2020, Bledor New Technology Association No. 24 will pay balance amounting to KRW 7.8 billion on December 23, 2020. The balance payment can be postponed for two months only once. Prior to the transaction, CrystalGenomics, Inc. held 31.1% stake and after the transaction, CrystalGenomics, Inc. will hold 15.6% stake. The transaction is expected to be completed on January 31, 2021.
Topazio New Technology Association No. 23, Anello New Technology Association No. 22, Bledor New Technology Association No. 24 and IASYS New Technology Association No. 25 completed the acquisition of 15.53% stake in Hwail Pharmaceutical Co.,Ltd. (KOSDAQ:A061250) from CrystalGenomics, Inc. (KOSDAQ:A083790) on January 11, 2021.
CG Invites Co Ltd is a Korea-based company principally engaged in the development and manufacturing of pharmaceuticals. The Company operates its business through three segments. The Pharmaceutical Research and Development segment is engaged in the research, development and sale of new drugs such as anti-inflammatory painkillers, anticancer drugs, anti-infectives and others. It is also engaged in the real estate rental business. The Pharmaceutical Manufacturing segment is engaged in the manufacture, retail and wholesale of finished drug products. The Other segment is engaged in the manufacture and sale of hot packs and other household items.
Topazio New Technology Association No. 23, Anello New Technology Association No. 22, Bledor New Technology Association No. 24 and IASYS New Technology Association No. 25 completed the acquisition of 15.53% stake in Hwail Pharmaceutical Co.,Ltd. from CrystalGenomics, Inc..
CG INVITES CO., LTD. 
