KSign International Inc. completed the acquisition of KB No.2 Special Purpose Acquisition Company from Jiransoft Co., Ltd., LS Asset Management Co., Ltd., Dream Asset Management Co. Ltd. and others in a reverse merger transaction.
October 23, 2014 at 12:00 am EDT
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KSign International Inc. entered into a merger contract to acquire KB No.2 Special Purpose Acquisition Company (KOSDAQ:A192250) from Jiransoft Co., Ltd., LS Asset Management Co., Ltd., Dream Asset Management Co. Ltd. and others in a reverse merger transaction on May 30, 2014. As part of the consideration, KB No.2 Special Purpose Acquisition will issue 9.35 shares for every share of KSign International. Following the completion of the deal, KB No.2 Special Purpose Acquisition Company will be the surviving company and KSign International Inc. will be dissolved. KB No.2 Special Purpose Acquisition Company will continue the business of KSign International Inc. The new name of KB No.2 Special Purpose Acquisition Company will be changed to KSign International Inc. The general shareholders' meeting of KB No.2 Special Purpose Acquisition Company is due on September 11, 2014 to consider the approval of the deal. The shareholders of KB No.2 Special Purpose Acquisition Company approved the deal on September 16, 2014. The transaction is expected to be closed by October 17, 2014.
As of July 28, the merger schedule was revised, as per which general meeting of stockholders of KB No.2 Special Purpose Acquisition Company is due on September 16, 2014. Period of submission of objections from creditors was amended from September 12, 2014 - October 13, 2014 to September 17, 2014- October 20, 2014. Merger registration plan date was changed from October 21, 2014 to October 27, 2014. Scheduled delivery date of new share certificates was changed from November 3, 2014 to November 10, 2014 and scheduled listing date was amended from November 4, 2014 to November 11, 2014. Transaction is expected to close by October 23, 2014. On August 1, the merger ratio was revised to 1: 9.1995455 and a total of 50.81 million shares will be issued. Shareholders of KB No.2 Special Purpose Acquisition Company approved the transaction on September 16, 2014. E-Chon Accounting Corporation acted as valuer to the deal.
KSign International Inc. completed the acquisition of KB No.2 Special Purpose Acquisition Company (KOSDAQ:A192250) from Jiransoft Co., Ltd., LS Asset Management Co., Ltd., Dream Asset Management Co. Ltd. and others in a reverse merger transaction on October 23, 2014.
KSIGN Co.,Ltd. is a Korea-based company mainly engaged in the development and sale of security software. Along with subsidiaries, the Company operates its business through three segments. The Anti Malware segment is involved in the development and sale of system security products. The Database(DB) segment is involved in the provision of the integrated database security solutions under the name of KSignSecureDB. The Public Key Infrastructure (KPI) segment is involved in the provision of the electronic certificate issuance and management system and integrated authentication solutions. The KPI products are sold under the name of KSignPKI. The integrated authentication solutions are sold under the name KSignAccess. In addition, the Company is engaged in the provision of big data security and mobile integrated security solutions.
KSign International Inc. completed the acquisition of KB No.2 Special Purpose Acquisition Company from Jiransoft Co., Ltd., LS Asset Management Co., Ltd., Dream Asset Management Co. Ltd. and others in a reverse merger transaction.
KSIGN CO.,LTD. 