Luritech LNC Co., Ltd. agreed to acquire Daishin Balance No.16 Special Purpose Acquisition Co., Ltd. (KOSDAQ:A457630) in a reverse merger transaction from Key Best Co., Ltd and others for KRW 16.3 billion on January 30, 2024. Upon completion, Luritech LNC Co., Ltd will survive the merger and will get listed on Korean stock exchange. The merger ratio is 1: 0.8853475.

The transaction is expected to complete on July 10, 2024.