Surplus 21 Inc. signed a contract to acquire 14.55% stake in ONDA Entertainment Co., Ltd. (KOSDAQ:A196450) from Tellus Consortium for KRW 18.8 billion on October 5, 2018. Under the transaction, Surplus 21 Inc. will acquire 12.5 million shares at KRW 1,500 per share. A deposit of KRW 2 billion will be paid on October 5, 2018 and remaining KRW 16.8 billion will be paid on November 27, 2018. As of November 23, 2018, KRW 16.8 billion will be paid on December 20, 2018. As of December 20, 2018, the terms have been revised and now Surplus 21 Inc. will acquire 9.5 million shares totaling 10.9% stake in ONDA Entertainment for KRW 13.3 billion. The revised offer per share is KRW 1400. As KRW 2 billion has already been paid on October 5, 2018, the remaining KRW 11.3 billion will be paid on February 15, 2019. As per the new amendment terms dated February 15, 2019, Surplus 21 acquires 1.8 million shares at KRW 1,111 per share. The payment shall be made on February 15, 2019. After the completion of the deal as per the revised plan, Tellus Consortium will retain 3.5% stake. Post transfer, Tellus Consortium will not hold any stake in ONDA Entertainment. The transaction is expected to be completed by November 27, 2018. As of November 23, 2018, the transaction is expected to complete on December 20, 2018. As of December 20, 2018, the closing has been postponed to February 15, 2019. Surplus 21 Inc. completed the acquisition of 1.45% stake in ONDA Entertainment Co., Ltd. (KOSDAQ:A196450) from Tellus Consortium for KRW 2 billion on February 15, 2019.