Evergreen Fund 1 agreed to acquire 16% stake in Glosfer Labs, Inc. from Glosfer Holdings Co., Ltd. for KRW 19.6 billion.
March 04, 2021
Share
Evergreen Fund 1 agreed to acquire 16% stake in Glosfer Labs, Inc. (KOSDAQ:A032860) from Glosfer Holdings Co., Ltd. for KRW 19.6 billion on March 5, 2021. Under the terms, both existing shares and convertible bonds of Glosfer Labs, Inc. will be transferred to Evergreen Fund 1. The consideration will be paid in tranches. The consideration of KRW 3 billion is paid on December 24, 2020 and as on March 8, 2021, paid KRW 6.2 billion. As on March 8, 2021, date of balance(3rd) payment date is changed to March 11, 2021. As of March 26, 2021, the fourth payment of 4.1 billion will be paid on June 30, 2021.
Glosfer Labs, Inc., formerly GMR Materials Co., Ltd., is a Korea-based company principally engaged in the iron scraps distribution business. The Company operates its business through two segments. The Metal and Nonmetal Raw Material Recycling Business segment engaged in the distribution of steel scraps used for steelmaking. The segment also builds and operates container shipping systems. The Fire Door Business segment manufactures, sells and constructs fire doors used in power plants, plants, apartments and buildings. The Company sells its products within domestic market and to overseas markets.
THE LAMY CO., LTD. 
