CIS Co. Ltd. agreed to acquire Korea No.3 Special Purpose Acquisition Co., Ltd. (KOSDAQ:A222080) in a reverse merger transaction on August 2, 2016. The merger ratio is 1:12.6775 between Korea No.3 Special Purpose Acquisition Co., Ltd. and CIS Co. Ltd. Under the terms of the transaction, 42.26 million shares will be issued. The reverse merger marks backdoor listing for CIS Co. Ltd. As per the amendment received on November 8, 2016, the merger ratio is 1:12.6525000 between Korea No.3 Special Purpose Acquisition Co., Ltd. and CIS Co. Ltd. and under the amended terms of the transaction, 42.17 million shares will be issued. Korea No.3 Special Purpose Acquisition Co., Ltd. proposes to change company name to Creative & Innovative System Corporation due to merger. As on January 17, 2017 Korea No.3 Special Purpose Acquisition said it will change its name to Creative & Innovative System Corporation on effective January 20, 2017. As of January 12, 2017, Kanghoon Yoon, the Chief Executive Officer, Sinho Choi, the Executive Director and Seokhoon Cho, the External Director resigned from Korea No.3 Special Purpose Acquisition Co., Ltd. and Korea No.3 Special Purpose changed its head office location. As of January 12, 2016, Kanghoon Yoon former Chief Executive Officer resigned and new Chief Executive Officer appointed Sooha Kim for Korea No.3 Special Purpose Acquisition Co., Ltd. The transaction’s resolution was taken by the Board of Directors of Korea No.3 on August 2, 2016 and is expected to be completed on January 10, 2017. As on December 5, 2016, the shareholders of Korea No.3 Special Purpose Acquisition and CIS Co.Ltd. approved the deal. The merger registration date is on January 12, 2017 and scheduled listing date of new merger shares is January 20, 2017. Ghilin Accounting Corporation acted as accountant to Korea No.3 Special Purpose Acquisition Co., Ltd. KPMG Samjong Accounting Corporation acted as accountant to CIS Co. Ltd. CIS Co. Ltd. completed the acquisition of Korea No.3 Special Purpose Acquisition Co., Ltd. (KOSDAQ:A222080) in a reverse merger transaction on January 10, 2017. Pursuant to merger, head office location was changed on January 12, 2017.