Lumapzen Co., Ltd. entered into an agreement to acquire 17.90% stake in Bio X Co., Ltd. from Mugunghwa Information Technology Co., Ltd. (KOSDAQ:A038340) for KRW 2.44 billion on February 9, 2023. The consideration will be paid in cash. Lumapzen will acquire 5.77 million shares of Bio X Co., Ltd. The board of directors of Mugunghwa Information Technology approved the transaction.

The transaction is expected to complete by April 30, 2023. As of May 26, 2023 The transaction is expected to complete by June 30, 2023. The transaction is expected to close on July 31, 2023.

As of July 25, 2023, the transaction is expected to close on August 31, 2023.