GTG Wellness Co.,Ltd (XKON:A219750) signed a contract to acquire Daishin Balance 4th Special Purpose Acquisition Co., Ltd. (KOSDAQ:A262830) from Daishin Securities Co., Ltd. (KOSE:A003540) and others in a reverse merger transaction on June 22, 2017. The consideration comprises issuance of 26.13 million shares at a ratio of 1: 14.6220000. Post completion, GTG Wellness will get dissolved and Daishin Balance 4th Special Purpose Acquisition will survive.

Upon completion, Daishin Balance 4th Special Purpose Acquisition will inherit the business of GTG Wellness and will change its name to GTG Wellness Co, Ltd. The largest shareholder after the completion of the merger will be Kim, Tae-Hyun, the CEO of GTG Wellness Co.,Ltd; and his expected equity ratio is 53.1%. The transaction is subject to shareholders' approval of more than two third majorities of shareholders present of Daishin Balance 4th Special Purpose Acquisition Co., Ltd in a meeting to be held on November 3, 2017. The Board of Directors of Daishin Balance 4th Special Purpose Acquisition resolved the deal on June 22, 2017.

The deal is expected to close on December 5, 2017 and the scheduled listing of new shares is on December 14, 2017. Hanul Accounting Corporation acted as external rating institution.