Axgate Co., Ltd. agreed to acquire IBKS No.12 Special Purpose Acquisition Company (KOSDAQ:A335870) in a reverse merger transaction on August 7, 2020. The merger ratio is 1:1.451. Upon-completion, IBKS No.12 shall be the surviving entity. Shareholder confirmation date is October 30, 2020. The transaction is expected to be completed on January 8, 2021.