Shareholding Ratio 10.22%→14.99%
Call Option Contract Also Signed
Samsung Electronics has acquired additional shares in the robot development company Rainbow Robotics.
On the 16th, Samsung Electronics disclosed that it purchased 913,936 common shares of Rainbow Robotics at 30,400 KRW per share through an over-the-counter transaction as of the 15th. As a result, Samsung Electronics' stake in Rainbow Robotics increased from 10.22% (1,942,000 shares) to 14.99% (2,854,136 shares).
The total purchase amount was approximately 27.8 billion KRW. The counterparty in the transaction was six individuals, including Oh Junho, Chief Technology Officer (CTO) and the largest shareholder of Rainbow Robotics.
Samsung Electronics also signed a contract on the 15th to hold a put option (call option) on shares of Rainbow Robotics held by Oh Junho, CTO, and other major shareholders and related parties. The number of shares subject to the call option is 8,550,439, and the option exercise period is up to six years from the contract date. If Samsung Electronics exercises the call option, its holdings in Rainbow Robotics will increase to 11,404,575 shares, raising its stake to 59.94%.
Focusing on fostering the robot business as a new growth engine, Samsung Electronics purchased a 10.22% stake in Rainbow Robotics for 59 billion KRW in January. At that time, Han Jong-hee, Vice Chairman and CEO of Samsung Electronics, said, "There is no significant meaning; please consider it as just acquiring shares," but reaffirmed, "The robot business is indeed a new growth engine."
At the 54th regular shareholders' meeting of Samsung Electronics held the day before, Vice Chairman Han also stated, "We will strengthen our proactive response to the upcoming full-scale robot era," adding, "We will enhance core technologies necessary for various robots and expand the development of products that allow customers to experience usefulness in their daily lives."
Founded in 2011, Rainbow Robotics is a company that possesses domestic multi-legged walking robot platform technology. It develops and supplies bipedal walking robots, quadrupedal walking robots, collaborative robots, and more.
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