Will shares intends to acquire 20.07% of Vision Source's equity for RMB 64.53 million, and control Sipix

On July 17, Will Semiconductor Co., Ltd. issued an announcement regarding the company's cash acquisition of 20.07% of the equity of Beijing Visionray Technology Development Co., Ltd.

The announcement shows that Will Semiconductor's purchase of 85.53% of the equity of Beijing OmniVision Technologies Co., Ltd., 42.27% of the equity of Beijing SuperPix Microelectronics Technology Co., Ltd., and 79.93% of the equity of Vision Source by issuing shares and raising supporting funds (hereinafter referred to as "this major asset reorganization") has been approved by the China Securities Regulatory Commission, and the relevant industrial and commercial change procedures are still in progress. The company now acquires a total of 20.07% of the equity held by the remaining shareholders of Vision Source in cash, thereby holding 100% of the equity of Vision Source.

On July 17, 2019, Shanghai Will Semiconductor Co., Ltd. and the parties involved in the transaction signed the "Equity Transfer Agreement", acquiring Wayne Wei-ming Dai, Shoichi Ryu, Wang Ching Miao Wilson, Hideki Okauchi, Hiroko Mihara, DDS, Inc. (hereinafter referred to as "DDS Co., Ltd."), Innovation Engine Co., Ltd. (hereinafter referred to as "IE Co., Ltd."), Advanced Technology Industry Creation Investment Limited Partnership (hereinafter referred to as "Advanced Combination") (hereinafter collectively referred to as the "Transferor") in cash from a total of 20.07% of the equity of Vision Source.

According to the disclosure, Vision Source is a holding company, whose main asset is the 53.85% equity of Beijing SuperPix Microelectronics Technology Co., Ltd., and it does not engage in production and operation business. The transfer price of Weier Technology's acquisition of 20.07% equity of Vision Source is RMB 64,528,536. The specific transfer shares and transfer prices are as follows:

Welltech said that the company has obtained the approval of the China Securities Regulatory Commission to purchase 85.53% of the equity of Beijing OmniVision Technology Co., Ltd., 42.27% of the equity of Beijing SuperPix Microelectronics Technology Co., Ltd. and 79.93% of the equity of Vision Source by issuing shares and raising supporting funds. At present, the relevant delivery procedures for this major asset reorganization are being processed. After the completion of the asset purchase by issuing shares, Beijing OmniVision Technology Co., Ltd. will become a wholly-owned subsidiary of the company, and Beijing SuperPix Microelectronics Technology Co., Ltd. and Vision Source will become the company's holding subsidiaries.

After Will Semiconductor acquires the remaining 20.07% stake in VisionSource in cash, VisionSource will become a wholly-owned subsidiary of the company, thereby further realizing its controlling stake in Beijing SiPix Microelectronics Technology Co., Ltd.