Sphere will invest an additional approximately 11.787 billion KRW in its key Singapore-based subsidiary, Sphere Nickel Cobalt Pte. Ltd. (hereafter SNC).

According to a regulatory filing by Sphere on the 10th, the company decided to acquire 8.3 million SNC shares for 11.78683 billion KRW. This amount equals 14.79% of Sphere's equity capital (79.71814 billion KRW).

This acquisition will be carried out through a cash purchase via a rights offering, with the acquisition date being the 10th. Following the completion of the investment, Sphere will hold a total of 77.77 million SNC shares, maintaining a 100% stake.

The acquisition amount of 11.78683 billion KRW (8.3 million USD) is a figure converted using the Seoul foreign exchange initial posted exchange rate (1,420.10 KRW per USD) on the 10th, the date of the filing.

Sphere stated that the purpose of this investment is to secure operating funds related to the subsidiary's nickel smelter business. This is interpreted as a measure to ensure stable financing for SNC, whose primary business is investing in the special alloy sector.

According to the filing, SNC acquired a 10% stake in Excelsior International Investment Pte. Ltd. (EII), which operates a nickel smelter and engages in alloy sales, on December 31, 2025, and completed the balance payment on February 13, 2026. This transaction also represents capital support from the parent company, Sphere, to secure operating funds such as financial costs for SNC.