Wonik IPS Co., Ltd. (KOSDAQ:A240810) signed a contract to acquire Wonik Tera Semicon Co.,Ltd. (KOSDAQ:A123100) from Wonik Holdings Co., Ltd. (KOSDAQ:A030530), Jae-Kyung Lee and other shareholders for approximately KRW 150 billion on October 29, 2018. Wonik IPS Co. will issue 0.7394724 shares of its common stock as consideration for each Wonik Tera Semicon's share.

A total of 8.29 million shares of Wonik IPS Co. will be issued as part of the merger. Wonik Holdings Co., Ltd. sold 30.99% stake and Jae-Kyung Lee sold 0.04% stake in Wonik Tera Semicon.

Post completion, Wonik IPS Co., Ltd. will be the surviving company. Board of Wonik IPS resolved in favor of the deal on October 29, 2018. As on December 13, 2018, transaction has been approved by the shareholders of Wonik Tera Semicon Co.

The merger is expected to close on February 1, 2019.