On the news that Yuil Robotics, a KOSDAQ-listed company, signed an option contract with the U.S. subsidiary of SK On, the stock rose more than 20% in early trading on the 2nd.
As of 9:27 a.m. that day, Yuil Robotics was trading at 76,500 won, up 14,800 won (23.99%) from the previous trading day.
After the market closed the previous day, Yuil Robotics announced that CEO Kim Dong-hun, who is also the largest shareholder, signed a shareholder agreement that includes conditions for an option to sell, which entails a change of the largest shareholder, with SK Battery America, the U.S. subsidiary of SK On. The price per share was set at 28,000 won, with the option exercise period lasting up to five years from the date of the agreement.
The number of shares subject to the option is 23% on a fully diluted basis, which represents the quantity that would allow SK Battery America to acquire the status of the largest shareholder upon exercising the option.
Earlier this year, Samsung Electronics exercised an option on shares of Rainbow Robotics that it held during the process of becoming the largest shareholder of Rainbow Robotics.