Cube Entertainment Inc. agreed to acquire Woori Special Purpose Acquisition 2 Co., Ltd. from LS Asset Management Co., Ltd. and other shareholders in a reverse merger transaction.

Cube Entertainment Inc. agreed to acquire Woori Special Purpose Acquisition 2 Co., Ltd. (KOSDAQ:A182360) from LS Asset Management Co., Ltd. and other shareholders in a reverse merger transaction on May 28, 2014. The merger ratio is 1:3.8252772 between Woori Special Purpose Acquisition 2 and Cube Entertainment and 19.97 million new shares of Woori Special Purpose Acquisition will be issued for the merger. The transaction is expected to complete on October 17, 2014.