Chemon Co., LTD. completed the acquisition of Ebest Special Purpose Acquisition 2 Co., Ltd. from T.S. Investment Corporation, EBEST Investment & Securities Co., Ltd., Woong Kim and others in a reverse merger transaction.
March 27, 2017
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Chemon Co., LTD. agreed to acquire Ebest Special Purpose Acquisition 2 Co., Ltd. (KOSDAQ:A217600) from T.S. Investment Corporation (KOSDAQ:A246690), EBEST Investment & Securities Co., Ltd. (KOSDAQ:A078020), Woong Kim and others in a reverse merger transaction on October 10, 2016. The merger ratio is 1: 7.1612819. Ebest Special Purpose Acquisition will issue 61.1 million shares as consideration. The merger ratio is updated to 1:6.4805000 and Ebest Special Purpose Acquisition will issue 55.3 million shares. The merger ratio is updated to 1:6.8925000 and Ebest Special Purpose Acquisition will issue 58.8 million shares. As of January 24, 2017, the merger ratio has been changed from 1:6.4805 to 1:6.463 and will issue 55.15 million shares. T.S. Investment Corporation sold 3.4% stake, EBEST Investment & Securities Co., Ltd. sold 0.34% stake(KOSDAQ:A078020), Woong Kim sold 3.4% stake.
The meeting for the shareholders of Ebest Special Purpose is scheduled on February 7, 2017. As of January 24, 2017, the meeting for the shareholders of Ebest Special Purpose has been rescheduled to February 23, 2017 from February 10, 2017. The Board of Ebest Special Purpose passed the resolution for the transaction on October 10, 2016. The acquisition is expected to close on March 14, 2017. The merger date has been changed to March 28, 2017.
On February 23, 2017, it was proposed to change the company name from Ebest Special Purpose Acquisition 2 Company to Chemon Inc due to merger and shareholders of Ebest Special Purpose Acquisition 2 Company approved the transaction. Taesung Accounting Corporation acted as external rating institution. Nexia-Samduk acted as external auditor.
Chemon Co., LTD. completed the acquisition of Ebest Special Purpose Acquisition 2 Co., Ltd. (KOSDAQ:A217600) from T.S. Investment Corporation (KOSDAQ:A246690), EBEST Investment & Securities Co., Ltd. (KOSDAQ:A078020), Woong Kim and others in a reverse merger transaction on March 28, 2017. As of March 29, 2017, Samhyun Nam, the External Director of Ebest Special Purpose Acquisition 2 Co., Ltd. resigned.
EBEST INVESTMENT & SECURITIES Co., Ltd., formerly E*TRADE Korea Co., Ltd, is a Korea-based company specialized in the provision of financial services. The Company is mainly engaged in the brokerage, dealing and underwriting of securities businesses, covering stocks, options, futures, government bonds, corporate bonds, foreign securities and financial derivatives products. It also involves in proprietary trading business, and provides consulting services. On March 8, 2013, 3Nod Digital Group Co., Ltd. announced that the Company had sold its entire 6.63% skake in 3Nod Digital Group Co., Ltd.
Chemon Co., LTD. completed the acquisition of Ebest Special Purpose Acquisition 2 Co., Ltd. from T.S. Investment Corporation, EBEST Investment & Securities Co., Ltd., Woong Kim and others in a reverse merger transaction.
EBEST INVESTMENT & SECURITIES CO., LTD. 
