Soruce announced on October 29 that it will fully comply with the Financial Supervisory Service's request for corrections and promptly resubmit the revised merger securities registration statement.
This revision includes enhancing the clarity of financial and risk disclosures, quantifying the post-merger integration execution plan, and supplementing the review process with a Q&A format for inquiries. Key dates such as resubmission, effectiveness, and closing will be transparently communicated through the official website and IR channels.
Soruce has strengthened the core assumptions of the merger based on the progress of Aribio's global Phase 3 clinical trial for AR1001, the target of the merger.
A company representative stated, "With the resubmission, we are one step closer to merger approval," adding, "The final decision lies with the supervisory authorities, and we will respond immediately to any additional requests for supplementation."
Additionally, the company clarified that the lawsuit filed the previous day to maintain the issuance of the sixth convertible bond was initiated by a single shareholder, and so far, no concrete evidence has been provided to support the claims. The company plans to respond strictly and promptly in accordance with laws and principles to protect the legitimate interests of both shareholders and the company, and will consider legal action if necessary. Relevant facts and procedures will be announced in a timely manner through official IR channels to minimize market confusion.
Separately from the merger process, the company's core business continues to operate normally. Soruce is upgrading its profitability system based on its premium and functional lighting capabilities and the cost task force team (TFT), and is expanding its business-to-consumer (B2C) reach through a pilot program for cognitive (functional) lighting.
Soruce stated, "We apologize for making you wait again," and added, "We will repay your trust with even greater transparency and results."
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