FIBERPRO, Inc. signed a merger contract to acquire Korea No.9 Special Purpose Acquisition Co., Ltd. (KOSDAQ:A368770) in a reverse merger transaction on August 17, 2021. Under the terms of the transaction, the merger ratio was evaluated as 1:32.3380000. As on November 25, 2021, the merger ratio is 1: 32.0460000.

Post-closing, the surviving corporation is Korea No.9 Special Purpose Acquisition but the actual business activities are conducted through the existing business by FiberPro, the extinct corporation and the merged corporation. FiberPro will enjoy the effect of being listed on the KOSDAQ market. The expected date of listing of new shares is January 28, 2022.

The transaction is subject to approval form the shareholders of Korea No.9 Special Purpose Acquisition Co., Ltd. in a meeting scheduled on December 14, 2021. On August 17, 2021, the transaction was resolved by the Board of Directors of Korea No.9 Special Purpose Acquisition Co., Ltd. The merger date is January 19, 2022. As on December 6, 2021, Transaction is expected to close on February 23, 2022.

As on December 29, 2021, Transaction is expected to close on March 8, 2022. Wonji acted as the external evaluation agency for Korea No.9 Special Purpose Acquisition Co., Ltd. Samjong Accounting Firm acted as the external auditor for FIBERPRO, Inc.