Lake Materials Co., Ltd. entered into an agreement to acquire Dongbu 5th Special Purpose Acquisition Co., Ltd. (KOSDAQ:A281740) in a reverse merger transaction on October 11, 2019. Merger ratio for this transaction would be Dongbu 5th Special Purpose Acquisition Co., Ltd. : Lake Materials Co., Ltd.= 1:4.5885000. Dongbu will issure 60.13 million as part of this transaction. Post completion, Dongbu 5th Special Purpose Acquisition Co., Ltd. will change its name to Lake Materials Co., Ltd. The expected date for shareholder's meeting is January 30, 2020. The transaction is expected to be completed on March 3, 2020. Ichon Accounting Firm acted as external evaluation body in the transaction. Lake Materials Co., Ltd. completed the transaction of Dongbu 5th Special Purpose Acquisition Co., Ltd. (KOSDAQ:A281740) in a reverse merger transaction on March 3, 2020. The merger stocks will be listed on March 23, 2020. Dongbu 5th Special Purpose Acquisition Co., Ltd tried to use the funds required for its own holdings, but since no shareholders exercised the right to purchase shares, the purchase price was not paid.