TS Trillion submits securities registration statement for merger with HiJe 4th SPAC

[Asia Economy Reporter Eunmo Koo] TS Trillion announced on the 29th that it has submitted a securities registration statement for a merger with HiJe 4th SPAC to the Financial Services Commission and has begun the process of listing on the KOSDAQ market.

Founded in 2007, TS Trillion develops and sells functional hair care products and professional cosmetics centered around the TS brand. TS Shampoo was launched on home shopping in 2014 and has since expanded its market to department stores, H&B stores, and duty-free shops.

TS Trillion leads the hair loss market and has secured a unique position. In July, through its corporate research institute, it acquired a government project to develop functional cosmetics applying D.D.S (Drug Delivery System) technology containing functional materials effective for hair loss mitigation, thereby expanding its core technology and competitiveness.

TS Trillion's consolidated sales for last year were 70.5 billion KRW, a slight decrease of 4.94% compared to 2018, but operating profit and net income recorded 4.8 billion KRW and 3.2 billion KRW respectively, increasing by 40.48% and 24.39% compared to 2018. Sales for the first half of this year were 28.3 billion KRW, down from 33.7 billion KRW in the same period last year, but operating profit improved to 2.5 billion KRW, up more than 54% from 1.6 billion KRW in the previous year, indicating an improved profit structure.

The merger price between TS Trillion and HiJe 4th SPAC is 2,000 KRW, with a merger ratio of 1 to 1.23950000. The shareholders' meeting to approve the merger is scheduled for November 13, and the exercise period for the stock purchase right is from November 13 to December 3. The merger date is December 6. After the merger, HiJe 4th SPAC will continue to exist, and the TS Trillion corporation will be dissolved.

Jang Ki-young, CEO of TS Trillion, stated, “Through the merger listing with HiJe 4th SPAC, we will expand our product lineup through continuous R&D in functional cosmetic materials and beauty devices,” adding, “To diversify our business, we will expand distribution channels and overseas entry, and broaden our business scope through global advertising and marketing.”

This content was produced with the assistance of AI translation services.