JY No.1 Future Technology Innovation Private Equity Joint Venture Company and Yap Global Co., Ltd. concluded a share transfer contract to acquire a 14.52% stake in exax Inc. (KOSDAQ:A060230) from J&J Investment Co,. Ltd. and Jeong, Jip-hoon for KRW 39.8 billion on June 24, 2021. Under the transaction, JY No.1 Future Technology Innovation Private Equity Joint Venture Company will acquire 8.571429 million shares representing 10.94% stake and Yap Global Co., Ltd. will acquire 2.803944 million shares representing 3.58% stake at a price of KRW 3500 per share. As a part of the transaction, J&J Investment will transfer 10.375373 million shares representing 13.24% stake and Jeong, Jip-hoon will transfer 1 million shares representing 1.28% stake. On the date of signing of a contract buyers paid KRW 2.7375 billion to J&J Investment Co,. Ltd. and KRW 262.5 million to Jeong, Jip-hoon as first down payment, second down payment of KRW 2.7375 billion was paid to J&J Investment Co,. Ltd. and KRW 262.5 million was paid to Jeong, Jip-hoon and balance of KRW 3.80388055 billion will be paid to J&J Investment Co,. Ltd. and KRW 2.975 billion will be paid to Jeong, Jip-hoon on August 19, 2021. The transaction is expected to be completed by August 19, 2021.