NBT Terminates Largest Shareholder Change Agreement... "Strategic Equity Partnership Strategy Remains Valid"

NBT announced on the 26th that it has terminated the stock purchase agreement involving a change of the largest shareholder. The main reasons for the termination were the buyer's failure to complete the transaction within the contractual deadline and major breaches of obligations.

The company stated that since the initial contract was signed in March, the buyer failed to fulfill contractual obligations, including: (i) not submitting essential disclosure documents required to close the transaction, (ii) lack of cooperation during due diligence and negotiations, and (iii) failure to fulfill agreements necessary for transaction closure. In particular, NBT explained that despite repeated requests for key documents?such as the external audit report, tax payment certificate, and accounting firm confirmation?required by the Korea Exchange, the buyer's lack of cooperation and delays in submission prevented timely disclosure.

Through a shareholder letter published after the disclosure, NBT stated that the buyer's repeated breaches of obligations undermined mutual trust, which is expected to have a negative impact on the company’s future development in the mid- to long-term. Ultimately, the company explained that, after considering both its future and shareholder value, it was inevitable to decide on terminating the agreement.

However, the company emphasized that it will maintain its existing strategic direction based on strategic equity transactions and reaffirmed its commitment to seeking more reliable candidates. Currently, NBT is contacting both existing partners and new strategic partners?including global entertainment and tech companies with strong user traffic, influential platforms, and high compatibility with its offerwall solutions?to keep open the possibility of careful discussions. The company stated that it will provide further disclosures as soon as any concrete decisions are made.

In the shareholder letter released on the same day, NBT also presented its future vision for new businesses related to stablecoins. NBT plans to apply a compensation and consumption system that allows users to experience stablecoins within its core reward platform model, which has been successfully validated in both domestic and international markets. The company aims to demonstrate the practical distribution and utilization potential of stablecoins within its large-scale user base ecosystem.

Going forward, NBT’s strategy is to build a real-use-based economic sphere that transcends borders through a stablecoin reward ecosystem connecting tens of millions of users, thousands of advertisers, commerce partners, and global platforms. The company aims to establish itself as a "stablecoin utility platform operator" where real value is realized.

Park Sookeun, CEO of NBT, said, "The stablecoin business, which has become a practical digital asset usable in everyday life beyond a simple trend, is a growth vision that can maximize synergy with our current core business areas." He added, "We will continue to explore various possibilities for advancement, including investment and joint business opportunities with stronger and more capable strategic partners, to enhance both corporate value and business stability."