Nain Tech Co., Ltd. cancelled the acquisition of Kyobo 7 Special Purpose Acquisition Company from EBEST Investment & Securities Co., Ltd. and others in a reverse merger transaction.
July 03, 2020
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Nain Tech Co., Ltd. signed an agreement to acquire Kyobo 7 Special Purpose Acquisition Company (KOSDAQ:A267320) from EBEST Investment & Securities Co., Ltd. (KOSDAQ:A078020) and others in a reverse merger transaction on July 4, 2019. Kyobo 7 Special Purpose Acquisition Company will issue 30.5 million shares at a merger ratio of 1: 10.939. The transaction is subject to the approval of shareholders of Nain Tech and Kyobo 7 Special Purpose Acquisition Company. The board of Nain Tech Co., Ltd. resolved the transaction on July 4, 2019. The transaction is expected to close on December 9, 2019. As of December 19, 2019, merger date is April 7, 2020. The consideration is funded by self owned funds. E-Jung Accounting Corporation acted as the External Evaluation Body in the transaction.
Nain Tech Co., Ltd. cancelled the acquisition of Kyobo 7 Special Purpose Acquisition Company (KOSDAQ:A267320) from EBEST Investment & Securities Co., Ltd. (KOSDAQ:A078020) and others in a reverse merger transaction on July 4, 2020.
LS Securities Co Ltd, formerly EBest Investment & Securities Co Ltd, is a Korea-based company principally engaged in the financial investment and securities services provision business. The Company mainly provides securities investment brokerage services such as equity securities, debt securities, investment securities, investment contract securities, derivatives-linked securities and foreign currency securities, consignment trading services such as real-time ordering, quoting and securities information inquiring for stock futures, options and funds, as well as own trading services. The Company also provides underwriting, arranging and lending services.
Nain Tech Co., Ltd. cancelled the acquisition of Kyobo 7 Special Purpose Acquisition Company from EBEST Investment & Securities Co., Ltd. and others in a reverse merger transaction.