Ostem Implant Announces Second Tender Offer at 190,000 KRW... Delisting Confirmed

Purchase of all short sale quantities planned regardless of subscription rate
at the same price as the first round for investor protection purposes

Dentistry Investment, the major shareholder of Osstem Implant, will conduct a second tender offer to purchase Osstem Implant shares at 190,000 KRW per share from today (22nd) until the 11th of next month.

As of the 22nd, out of the total issued common shares of Osstem Implant (15,576,488 shares, hereinafter referred to as the total issued shares), Osstem Implant's treasury shares (939,469 shares), shares held by Dentistry Investment (10,038,385 shares), and shares held by special related parties of the tender offeror (Chairman Choi Kyu-ok) (2,943,718 shares) are excluded, and the remaining 1,654,916 shares will be fully acquired.

Osstem Implant announced that the tender offer is being pursued with the intention of voluntarily delisting the target company if the requirements and procedures under relevant laws and regulations are met. Dentistry Investment is a special purpose company established by private equity funds MBK Partners and UCK Partners for the purpose of acquiring management rights of Osstem Implant.

Dentistry Investment and Chairman Choi Kyu-ok hold 12,982,103 shares, accounting for 83.34% of the total issued shares. If all remaining shares are acquired in the second tender offer, their stake will increase to 93.97%.

The Dentistry Investment side stated, "The reason for launching the second tender offer is that the floating shares of Osstem Implant account for only one-tenth of the total issued shares, posing risks due to high volatility and difficulty in finding buyers and sellers, necessitating protection for investors." They added, "The price for the second tender offer is the same as the first," and "This provides an opportunity for general shareholders who could not participate in the first round to recover their investment at a price reflecting a premium." Dentistry Investment plans to purchase all shares tendered regardless of the subscription rate.

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