Prostemics Co., Ltd. entered into a share contract to acquire KB No.3 Special Purpose Acquisition Company (KOSDAQ:A203690) in a reverse merger transaction on March 2, 2015. Merger ratio is 1:2.6819048 between KB No.3 Special Purpose Acquisition Company and Prostemics Co., Ltd. A total of 32.87 million new shares will be issued for the merger. Post acquisition, KB No.3 Special Purpose Acquisition Company will survive and Prostemics Co., Ltd. will be dissolved. KB No.3 Special Purpose Acquisition Company will take over the business of Prostemics Co., Ltd., and the company name will be changed to Prostemics Co., Ltd. The resolution date of Board of Directors of KB No.3 Special Purpose Acquisition Company is March 2, 2015. The transaction is expected to close on July 29, 2015.

As of March 13, 2015, the meeting of stockholders is scheduled for June 12, 2015. The creditors can submit their objections from June 15, 2015 to July 16, 2015. The transaction is expected to close on July 16, 2015 and the new shares will be listed on July 30, 2015. As of June 11, 2015, it was announced that the expected closing of the transaction is not determined yet. As of July 1, 2015, a meeting of shareholders of KB No.3 Special Purpose Acquisition for the approval of merger will be held on August 13, 2015. As of August 13, 2015, KB No.3 Special Purpose Acquisition Company's shareholders approved the transaction. The transaction is expected to complete on September 15, 2015 with a registration date of September 17, 2015. Anse Accounting Corporation acted as external evaluating agency in the deal.

Prostemics Co., Ltd. completed the acquisition of KB No.3 Special Purpose Acquisition Company (KOSDAQ:A203690) in a reverse merger transaction on September 15, 2015.