Sanigen Co. Ltd agreed to acquire KB No.23 Special Purpose Acquisition Company from J Asset Management Co., Ltd. and others for KRW 2.9 billion in a reverse merger transaction.

Sanigen Co. Ltd agreed to acquire KB No.23 Special Purpose Acquisition Company (KOSDAQ:A440200) from J Asset Management Co., Ltd. and others for KRW 2.9 billion in a reverse merger transaction on April 20, 2023. Upon completion, Sanigen will be the surviving entity.

The transaction is expected to close on September 26, 2023. The transaction is expected to close on October 18, 2023.