Korea No.4 Special Purpose Acquisition Co., Ltd. (KOSDAQ:A240540) agreed to acquire Viol Co., Ltd. for KRW 54.3 billion on May 3, 2018. Korea No.4 Special Purpose will issue 26 million shares as part of the consideration. The merger ratio is set at 65 Korea No.4 Special Purpose’s shares for 1 share of Viol. The definitive agreement is expected to be signed by August 21, 2018. Viol reported total revenues of KRW 7 billion, total assets of KRW 6.3 billion, net profit of KRW 1.9 billion and total common equity of KRW 4.8 billion for the last business year. The merger needs an approval from each participated shareholders of more than 1/3 of total issued shares and 2/3 of voting rights in the general meeting of shareholders for the approval of the merger. The merger is expected to close by October 19, 2018.