MBK and Unison Bid for Osstem: "Public Tender Offer at 190,000 KRW per Share"

Public Tender Offer Scheduled Until the 24th of Next Month
MBK-Unison Consortium to Become Largest Shareholder Upon Acquisition
Chairman Choi Kyu-ok Expected to Be Second-Largest Shareholder

[Asia Economy Reporter Myung-Hwan Lee] Osstem Implant announced on the 25th that Dentistry Investment Co., Ltd. will conduct a tender offer for Osstem Implant's shares.

Dentistry Investment is a special purpose company (SPC) established for investment purposes by UCK (Unison Capital Korea), a private equity firm, and MBK Partners.

According to Osstem Implant's disclosure on the day, the tender offer target ranges from 15.4% to 71.8% of Osstem Implant's potential total issued shares (15,576,505 shares). The purchase price is 190,000 KRW per share, and the tender offer period is from the day of the announcement until the 24th of next month.

Osstem Implant stated, "If this tender offer is successful, the MBK-Unison consortium will become the largest shareholder of the company, and Chairman Choi Kyu-ok will remain the second largest shareholder," adding, "It is expected that the company's governance will be reorganized around a board of directors led by the UCK consortium."

They continued, "Changes in shareholder composition and governance are not expected to directly affect the company's day-to-day management and business activities," emphasizing, "There will be no disruption to the products and services provided to customers and dealers."

Earlier, separately from the tender offer, the MBK-Unison consortium signed a stock purchase agreement and investment agreement on the 21st to purchase approximately 1,442,421 shares held by Chairman Choi Kyu-ok, the founder and largest shareholder of Osstem Implant, at the same price as the tender offer price. This corresponds to about 9.3% of the potential total issued shares.

Following the news of Osstem Implant's tender offer, the stock price continues to rise. As of 2:20 PM on the day, Osstem Implant was trading at 186,300 KRW, up 14.65% (23,800 KRW) compared to the previous trading day.