Affinity to Publicly Acquire Remaining Lock&Lock Shares at 8,750 KRW Per Share

Global private equity firm Affinity Equity Partners (hereinafter Affinity) is conducting a tender offer to acquire a 30.33% stake in Lock&Lock, a company listed on the KOSPI market.

According to the Financial Supervisory Service's electronic disclosure system on the 18th, Affinity will conduct a 27-day tender offer from today until July 14 to purchase 13,140,112 shares of Lock&Lock common stock (30.33% of the total issued shares) at 8,750 KRW per share. The tender offer price is 6.7% higher than Lock&Lock's closing price of 8,180 KRW on the previous day.

Currently, Affinity holds a 69.64% stake in Lock&Lock. Affinity plans to acquire all remaining shares through the tender offer and then proceed with delisting.

Affinity will purchase all tendered shares regardless of the subscription rate and intends to pay the purchase price in cash. The funds required for the tender offer amount to 114.97598 billion KRW.

The securities firm handling the tender offer is NH Investment & Securities. Lock&Lock shareholders can participate in the tender offer through NH Investment & Securities branches, its website, Home Trading System (HTS), or Mobile Trading System (MTS).

Meanwhile, Lock&Lock's stock price surged 11.6% the previous day, and trading volume increased about 12 times compared to the previous trading day, raising suspicions in the market that information about the tender offer may have leaked in advance.