Studio Santa Claus Entertainment Co., Ltd. (KOSDAQ:A204630) intends to acquire 41.4% stake in Nexturn Co.,Ltd. (KOSDAQ:A089140) from Daeho Technology Korea Co., Ltd. and Wooa Corporation for KRW 70 billion on December 29, 2020. Studio Santa Claus Entertainment entered into a contract with Daeho Technology Korea Co., Ltd. and Wooa Corporation on December 29, 2020. Under the terms, Studio Santa Claus Entertainment will acquire 4.9 million shares at KRW 14,280.75 per shares.

Studio Santa Claus Entertainment will pay KRW 11.34 billion and KRW 2.66 billion to Daeho Technology Korea and Wooa Corporation down payment on December 29, 2020, KRW 11.34 billion and KRW 2.66 billion to Daeho Technology Korea and Wooa Corporation on February 3, 2021 and KRW 34 billion and KRW 8 billion to Daeho Technology Korea and Wooa Corporation on the day before the regular shareholders' meeting, respectively. Daeho Technology Korea and Wooa Corporation will transfer 3.97 million shares and 0.93 million shares of Nexturn representing 33.50% and 7.88% stake respectively. Post completion, Studio Santa Claus Entertainment will be the largest shareholder of Nexturn.

The transaction is funded by funds available and borrowings. The transaction is expected to close on March 24, 2021. As of March 23, 2021, the transaction is expected to close on March 23, 2021.

Samdo Accounting Corporation is acting as external evaluation agency.