Sapiens Semiconductor to Hold Extraordinary General Meeting on 22nd for Merger Listing with Hanamust 7th SPAC

Sapien Semiconductor, a specialized company in micro LED display driving system semiconductors (LEDoS DDIC, LED-on-Silicon Display Driver IC), announced on the 7th that an extraordinary general meeting of shareholders for the merger listing with Hanamust 7th SPAC will be held on the 22nd. Prior to this, IR sessions for institutional and general investors will be conducted starting from the 12th.

Sapien Semiconductor received preliminary listing examination approval from the Korea Exchange on the 10th of last month. After the merger date on January 24 next year, it is scheduled to be listed on KOSDAQ in February. After the merger listing, Sapien Semiconductor’s expected market capitalization is approximately 120 billion KRW, with an inflow of funds amounting to 8 billion KRW. The restricted circulation volume after the merger will be about 80% of the total.

Led by CEO Lee Myung-hee, a former Samsung Electronics executive, Sapien Semiconductor is a leading fabless company in the micro LED display driving system semiconductor field. It provides customized total solutions related to micro displays to global big tech companies.

Sapien Semiconductor possesses unique circuit design core technology that implements micro LED-specialized DDIC using a digital driving method for low cost and high efficiency. In August, it was the only display-related company selected as a Rising Star Fabless company in the ‘Global Star Fabless 30 Technology Development Support Project’ promoted by the Ministry of Trade, Industry and Energy.

Micro LED, recognized as next-generation display technology, is expected to complement or replace existing OLED technology, signaling a paradigm shift in the display market. The core technology owned by Sapien Semiconductor is a key technology for micro LED, enabling broad coverage from TVs to monitors, signage, tablet PCs, smartphones, smartwatches, and AR/VR/MR (Augmented Reality/Virtual Reality/Mixed Reality) wearable device markets, thus anticipating significant benefits from the blooming micro LED market.

CEO Lee Myung-hee of Sapien Semiconductor stated, “To secure an early lead in the new display market, we have accumulated DDIC products specialized for micro LED and over 140 global technology IPs. As the government has selected semiconductors and displays as national advanced industry core technologies and shows strong commitment to fostering these fields, we will mass-produce smaller and more efficient products to lead the commercialization of micro LED and contribute to the development of Korea’s future growth industries.”

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