ONDA is merging with Bubba Gump Inc. under a small-scale procedure, assuming all assets and liabilities. Creditors have until November 17, 2023 to file objections.
ONDA Inc. and Bubba Gump Inc. resolved to merge — with ONDA as the surviving entity — on October 5, 2023, per resolution of ONDA's board of directors and the representative director of Bubba Gump Inc. The merger agreement was executed on October 6, 2023.
ONDA has opted for a small-scale merger procedure. On November 6, 2023, the board of directors approved the merger agreement in lieu of a general shareholders' meeting. Bubba Gump Inc. obtained shareholder approval via special resolution on October 26, 2023.
Under this merger, ONDA will assume the business assets and liabilities of Bubba Gump Inc., and Bubba Gump Inc. will be dissolved.
(Merger ratio: ONDA Inc. : Bubba Gump Inc. = 1 : 0.0121139)
We hereby publish this creditor objection notice. Creditors who object to this merger may submit their objections during the period specified below.
1. Creditor Objection Procedure
(1) Process: Creditors of ONDA as of the publication date who object to this merger must submit objections in writing.
(2) Period: November 7, 2023 – November 17, 2023
(Special Act on Assistance to Small and Medium Venture Business, Article 15-3)
(3) Submission address:
Corporate Support Office, ONDA Inc.
49 Teheran-ro 83-gil, 2F, Gangnam-gu, Seoul (Samseong-dong)
ONDA Inc.
49 Teheran-ro 83-gil, 2F, Gangnam-gu, Seoul (Samseong-dong)
CEO Oh Hyeon-seok