Fact Source: Financial Supervisory Service DART / 2024-11-06
Disclosure Type: Amendment to Decision on Acquisition of Shares and Investment Certificates of Other Corporations
💡 Summary in 3 Seconds
Hanwha Systems has amended the scheduled acquisition date (previously November 11, 2024) for shares in its US special purpose vehicle, HS USA HOLDINGS CORP., stating that the acquisition date will be re-disclosed once finalized due to additional transaction scheduling.
📊 1. [Key Disclosure Details & Financial Highlights]
- Original Filing Date: June 21, 2024
- Amendment Date: November 06, 2024
- Reason for Amendment: Revision of scheduled acquisition date due to finalization of issuing company details and additional transaction timeline requirements
- Main Revisions:
- Company Name: (Pre-correction) HS USA Holdings (tentative) → (Post-correction) HS USA HOLDINGS CORP.
- Representative: (Pre-correction) To be appointed → (Post-correction) Yeon-Bo Jeon
- Scheduled Acquisition Date: (Pre-correction) 2024-11-11 → (Post-correction) – (To be re-disclosed upon date finalization)
- Incorporation Status: (Pre-correction) Scheduled for June 2024 → (Post-correction) Incorporation completed on June 28, 2024 (1 share at $1,000)
- Issuing Corporation: HS USA HOLDINGS CORP. (Nationality: USA, Main Business: Equity investment, Relationship: Subsidiary)
- Acquisition Details:
- Number of Shares: 64,000 shares (100.00% ownership)
- Acquisition Amount: KRW 88,371,200,000 (approx. KRW 88.37B / USD 64,000,000 at FX rate 1,380.80 KRW/USD)
- Relative Size to Equity: 4.10% (Based on year-end 2023 consolidated total equity of KRW 2.15T)
- Purpose of Acquisition: Acquisition of a 60% stake in Philly Shipyard Inc. (PSI) in Philadelphia, US, through the issuing entity to expand into global markets and maximize synergy with naval systems technology
- Board Resolution Date: June 20, 2024
- Other Notes: The acquisition of PSI shares by HS USA HOLDINGS CORP. will be re-disclosed once finalized. The KRW equivalent amount may change based on the foreign exchange rate on the actual closing date.
📈 2. [Professional Insight: What This Means for Investors]
This filing details regulatory amendments to Hanwha Systems’ acquisition of shares in its US subsidiary, HS USA HOLDINGS CORP., originally resolved in June 2024.
The corporate name has been confirmed as ‘HS USA HOLDINGS CORP.’, with Yeon-Bo Jeon appointed as representative, and incorporation was completed on June 28, 2024. The previously scheduled acquisition date of November 11, 2024, has been amended due to additional regulatory and procedural timelines, with the finalized date to be announced via a future filing. The capital contribution remains unchanged at USD 64M (approx. KRW 88.37B, representing 4.10% of total equity).
📝 Editor’s Comment (by K-STOCK Editor)
The objective facts established in this amendment disclosure are the completion of incorporation for HS USA HOLDINGS CORP. (June 28, 2024) and the revision of the scheduled acquisition date from November 11, 2024, to a date to be confirmed and re-disclosed later.
Moving forward, the primary objective checkpoints for investors are observing the subsequent regulatory re-disclosure once the exact acquisition date is finalized. As the filing explicitly notes potential changes in transaction schedules depending on procedural steps, tracking future regulatory updates remains essential.
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Source: This content was newly structured and written based on official data submitted to the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
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