Aprogen KIC Inc. (KOSE:A007460) signed a merger agreement to acquire remaining stake minority in Aprogen, Inc. on April 24, 2020. The merger ratio between APRGENK Inc. and APRGEN Co., Ltd. was calculated as 1: 16.3751883. On July 8, 2020, the merger ratio was changed to 1: 16.1968859. As of July 24, 2020, the merger ratio was changed to 1: 14.9412355. In a related transaction, Aprogen KIC Inc. agreed to acquire Aprogen Healthcare & Games Inc. Aprogen KIC Inc. will issue 908.9 million shares representing KRW 1.8 trillion for both the transactions. Post transaction, Aprogen, Inc. will extinct. For the year ended December 31, 2019, Aprogen, Inc. reported total assets of KRW 219.6 billion and net assets of KRW 25.9 billion. A general meeting for Aprogen KIC Inc.'s shareholders' approval is scheduled on August 11, 2020. As on August 28, 2020 date of shareholder meeting is and listing of shares is undecided. As of September 1, 2020, scheduled shareholders' meeting disclosed date is September 29, 2020 and listing of shares disclosed date is November 19, 2020. As on April 24, 2020, Board of Aprogen KIC Inc. resolved the transaction. Transaction is expected to close on October 6, 2020. As of July 24, 2020, the transaction is expected to close on October 20, 2020. As of August 28, 2020, the expected closing date is undecided. As of September 1, 2020, the transaction is expected to close on November 3, 2020. Aprogen KIC Inc. (KOSE:A007460) cancelled the acquisition of remaining stake minority in Aprogen, Inc. on September 8, 2020. The effect of the securities report was not made on the planned schedule, and accordingly, it is impossible to proceed with the merger according to the planned schedule and method. The merger decision is withdrawn by the resolution of the Aprogen, Inc. Board of Directors.