Sun (TYO:6736) said it will receive 3.5 million shares of Cellebrite DI, its equity-method affiliate, following the fulfillment of a price adjustment clause, according to a Monday filing on the Tokyo Stock Exchange.
Cellebrite's shares, which rose to $12.5 on Aug. 14, $15 on Sept. 13, and $17.5 on Nov. 1, met the conditions outlined in a reverse triangular merger agreement from April 2021.
Under the agreement, Cellebrite will issue up to 15 million shares in compensation if specific price thresholds are met over five years. The shares are being issued free of charge, with no change to SunCorporation's operating income projection.
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