Studio Samick Co., Ltd. agreed to acquire IBKS No.13 Special Purpose Acquisition Company (KOSDAQ:A351340) in a reverse merger transaction on April 22, 2022. The merger ratio is 1: 44.9595000. In the event that the total number of stocks exercising stock appraisal rights in opposition to the Merger exceeds 33.33% of the total issued stock, the Board of Directors of the surviving or disbanding company may decide to completed this Agreement without continuing the Merger. Transaction is expected to close on September 30, 2022. As per update on July 21, 2022, shareholder's meeting is scheduled on August 10, 2022. The shareholder's meeting has been rescheduled to August 25, 2022. As of October 14, 2022, Shareholders meeting has been rescheduled to November 10, 2022. Transaction will close on November 4, 2022. As of October 14, 2022, transaction is expected to close on December 13, 2022. Lee Jung Accounting Firm acted as an accountant in the transaction.

Studio Samick Co., Ltd. cancelled the acquisition of IBKS No.13 Special Purpose Acquisition Company (KOSDAQ:A351340) on November 10, 2022. IBKS No.13 Special Purpose Acquisition Company shareholders discarded the merger.