Graphy acquires control of Ray for $35M
What's the deal? South Korea's Graphy will acquire a 26.14% stake in RayDealroom has a profile for this one. Try Dealroom → for about 49.2 billion won (roughly $35 million), becoming its largest shareholder. Graphy is buying 4,087,749 shares from Ray chief executive Lee Sang-cheol and affiliated entity Ray HoldingsDealroom has a profile for this one. Try Dealroom → at 12,024 won per share.
How is it structured? The deal closes in two stages in September 2026. Graphy will receive 2,401,521 shares on 15 September, followed by a further 1,686,228 shares from Ray Holdings on 16 September. Graphy said the purpose is to secure management rights and create synergies; it will appoint designated directors and an auditor at an extraordinary shareholders' meeting.
Why now? The transaction follows a financing package of convertible preferred shares and convertible bonds that Graphy issued in July 2026. It comes as rival MegaGen ImplantDealroom has a profile for this one. Try Dealroom → has built a 7.69% stake in Ray with the stated aim of influencing management.
The signal: The deal tightens consolidation in South Korea's dental-device sector, with Graphy seeking control of a listed company that is larger by revenue and assets.
Read more: Edaily
Image credit: moatazmustapha
