Classys Inc. agreed to acquire KTB Special Purpose Acquisition Company 2 Co., Ltd. from AfreecaTV Co., Ltd., KTB Investment & Securities Co., Ltd. and other sellers in a reverse merger transaction.
July 13, 2017
Share
Classys Inc. agreed to acquire KTB Special Purpose Acquisition Company 2 Co., Ltd. (KOSDAQ:A214150) from AfreecaTV Co., Ltd. (KOSDAQ:A067160), KTB Investment & Securities Co., Ltd. (KOSE:A030210) and other sellers in a reverse merger transaction on July 12, 2017. As on July 13, 2017, definite agreement has been signed. The merger ratio is 1: 54.9714227.
KTB Special Purpose Acquisition Company 2 Co., Ltd. will issue 54.97 million shares in the transaction. As reported October 12, 2017, the merger ratio was changed to 1: 54.973077. KTB Special Purpose Acquisition Company 2 Co., Ltd. will issue 54.97 million shares in the transaction.
Classys Inc. will continue to survive and do business and will be listed on the KOSDAQ market. Board of Directors of KTB Special Purpose Acquisition Company 2 Co., Ltd. made a resolution in favor of the transaction on July 12, 2017. The general meeting of shareholders date is October 26, 2017.
The transaction has been approved by the shareholders of KTB Special Purpose Acquisition Company 2 Co., Ltd. during the general meeting of shareholders on November 8, 2017. The merger date is November 27, 2017. As per new amendment merger date is rescheduled to December 12, 2017.
Ernst & Young Han Young acted as external rating institution.
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.
Classys Inc. agreed to acquire KTB Special Purpose Acquisition Company 2 Co., Ltd. from AfreecaTV Co., Ltd., KTB Investment & Securities Co., Ltd. and other sellers in a reverse merger transaction.