Gl Pharm Tech Corporation agreed to acquire IBKS No.2 Special Purpose Acquisition Company in a reverse merger transaction.
The transaction was resolved by the Board of IBKS No.2 Special Purpose Acquisition Company. As on August 12, 2016, the shareholders of IBKS No.2 Special Purpose Acquisition Company approved the deal. As per amended terms of the transaction on July 6, 2016, general meeting of shareholders plan date was amended from July 28, 2016 to August 2, 2016. Merger date was amended from August 29, 2016 to September 5, 2016. Expected merger date is September 19, 2016. Scheduled listing date of new merger shares is October 5, 2016. Shinah Accounting Corporation acted as external rating institution.