[Featured Stock] Eoflow Hits Lower Limit as US Medtronic Acquisition Falls Through

On the 7th, the stock price of IoFlow, a company listed on KOSDAQ, showed a decline.

On this day, IoFlow's stock price dropped to the limit down immediately after the market opened, recording 7,210 KRW.

This was due to news that the US healthcare company Medtronic Korea Holdings withdrew its acquisition of IoFlow. IoFlow announced that it had canceled the new share subscription agreement (SSA) with Medtronic and withdrew the third-party allotment capital increase targeting Medtronic.

IoFlow stated that it is terminating the stock transfer contract because Medtronic did not proceed with the public tender offer.