Nexus approves $2.8 million share sale to KT, LG Uplus and CertiK

  • Nexus approved a share sale to KT, LG Uplus and CertiK.
  • 2,151,443 new shares represent 2.51% of Nexus's outstanding stock.
  • Nexus's OneStore ownership will rise to 95.88% after acquiring additional stakes.

Nexus approved a third-party allotment worth about ₩3.7973 billion ($2.8 million) for KT, LG Uplus and blockchain security firm CertiK (HCIC LLC). The company will issue 2,151,443 new shares, equal to 2.51% of its outstanding stock, subject to a one-year lockup, with payment scheduled for Sept. 18. The financing accompanies Nexus's acquisition of KT's and LG Uplus's remaining OneStore stakes, raising its ownership from 89.03% to 95.88%. The transactions would give Nexus effective control of OneStore and add South Korea's three telecom carriers to its shareholder base. Nexus plans to use the expanded shareholder network to develop its platform business and a Web3-based app-market ecosystem, while CertiK is expected to support security credibility.

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