Kyobo No.9 SPAC, Absorbs Online Game Company Velop Through Merger

[Asia Economy Reporter Lee Jung-yoon] Kyobo No.9 SPAC announced on the 12th that it has decided to merge with online and mobile game company Vellop.

The merger ratio between Kyobo No.9 SPAC and Vellop is 1 to 50.2115, and the merger date is set for September 28. The scheduled listing date of the new shares is October 12.

Meanwhile, the Korea Exchange KOSDAQ Market Division announced a suspension of trading for Kyobo No.9 SPAC common stock due to SPAC merger (preliminary review request) reasons. The suspension period is from 4:21 PM on the same day until the notification of the preliminary listing review results, or if a disqualification review result is notified, until the resolution or decision to halt the merger with the merger target company.