Shin Steel Co.,Ltd. agreed to acquire Hana Financial Fourteen Special Purpose Acquisition Company (KOSDAQ:A332710) from SSI Investment Co., Ltd. and others in a reverser merger transaction on December 20, 2019. As a part of the consideration, Hana Financial Fourteen Special Purpose Acquisition Company will issue 3.3675 share for every one common share of Shin Steel Co.,Ltd. After the transaction, Shin Seung-gon will gain 45.87% stake in Hana Financial. After the completion, Hana Financial becomes a surviving corporation and Shin Steel becomes an extinction corporation. In effect, Shin Steel Co., Ltd. will be listed on the KOSDAQ market while maintaining business continuity. The transaction is subject to shareholder approval and EGM meeting would be held on April 17, 2020. As on March 2, 2020, it was decided that EGM meeting would be held on June 2, 2020 and the transaction is expected to close on July 6, 2020. The transaction is expected to be closed on May 21, 2020. As of April 16, 2020, the transaction is expected to close on August 3, 2020. Shin Steel Co.,Ltd. cancelled the acquisition of Hana Financial Fourteen Special Purpose Acquisition Company (KOSDAQ:A332710) from SSI Investment Co., Ltd. and others in a reverser merger transaction on May 7, 2020.