Hurum Co., Ltd. (XKON:A284420) signed a contract to acquire NH Special Purpose Acquisition 16 Company (KOSDAQ:A353190) from Winvest Venture Partners Inc., NH Investment & Securities Co., Ltd. (KOSE:A005940), Truststone Asset Management Co., Ltd., Kolon Investment, Inc. and other shareholders in a reverse merger transaction on January 27, 2021. Hurum Co., Ltd. signed a merger contract to acquire NH Special Purpose Acquisition 16 Company (KOSDAQ:A353190) from Winvest Venture Partners Inc., NH Investment & Securities Co., Ltd. Truststone Asset Management Co., Ltd., Kolon Investment, Inc. and other shareholders in a reverse merger transaction on April 15, 2021. The merger ratio is NH Special Purpose Acquisition 16 Company: Hurum Co., Ltd is 1: 6.15. As of the end of the most recent fiscal year, the largest shareholder of NH Enterprise Acquisition Purpose No. 16 Co., Ltd. is Winvest Venture Partners Inc., holding 11.60% (as of the end of 2020), and the largest shareholder of Hurum Co., Ltd. is Kim Jin-Seok, Chief Executive Officer. It holds 44.31%. Upon completion of the merger, the largest shareholder is changed to Jin-Seok, and the stake including related parties becomes 45.90%. Post-merger, NH Enterprise Acquisition Purpose 16 Co., Ltd. becomes a surviving corporation and Hurum Co., Ltd. becomes an extinguished corporation. The effect of listing on the KOSDAQ market will occur while Hurum Co., Ltd. maintains its business continuity.

The shareholders meeting is scheduled on June 2, 2021. As on April 15, 2021, the shareholder`s meeting will be held on June 10, 2021. Transaction is expected to close on July 6, 2021. As on April 15, 2021, the transaction is expected to complete on July 13, 2021. Hanmi Accounting Firm acted as evaluation agency in the deal.

Jinseok Kim, Jinseong Kim, Kim, Bong-gyun and Hurum Co., Ltd. (XKON:A284420) completed the acquisition of NH Special Purpose Acquisition 16 Company (KOSDAQ:A353190) from Winvest Venture Partners Inc., NH Investment & Securities Co., Ltd. (KOSE:A005940), Truststone Asset Management Co., Ltd. and Kolon Investment, Inc. and other shareholders in a reverse merger transaction on July 15, 2021. The transaction was conducted using own funds.