AcquisitionsAug 31, 2026, 05:29 PM
SUIC Worldwide Holdings Acquires 51% of Vision Renu Corp for 30M Shares
AI Summary
SUIC Worldwide Holdings Ltd. announced the completion of its acquisition of a 51% controlling interest in Taiwan Vision Renu Corporation through a share exchange agreement. SUIC issued 30,000,000 shares of its common stock in exchange for the stake. Vision Renu specializes in high-tech medical devices for the aging population, including a presbyopia treatment laser system and a TMS device for depression. The company also announced management changes, with Chen King Te appointed as Chairman, Director, and CEO, and Kho Jean Jean as Director and CFO. Pro forma financial statements show combined assets of over $50 million post-acquisition.
Key Highlights
- SUIC Worldwide Holdings Ltd. acquired 51% of Taiwan Vision Renu Corporation for 30,000,000 shares of SUIC Common Stock.
- Vision Renu Corporation focuses on R&D and manufacturing of high-tech medical devices, including a Scleral Micro-Ablation Laser System and a Transcranial Magnetic Stimulation (TMS) Device.
- The acquisition is structured as an equity-for-equity exchange and is intended to qualify as a tax-free reorganization.
- New management appointed: Chen King Te as Chairman, Director, and CEO; Kho Jean Jean as Director and CFO.
- Pro forma combined assets as of June 30, 2026, are $50,350,297, with liabilities of $1,211,196 and stockholders' equity of $49,139,101.
- Pro forma net loss attributable to SUIC for the six months ended June 30, 2026, was $97,460.
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