Classys Inc. agreed to acquire KTB Special Purpose Acquisition Company 2 Co., Ltd. (KOSDAQ:A214150) from AfreecaTV Co., Ltd. (KOSDAQ:A067160), KTB Investment & Securities Co., Ltd. (KOSE:A030210) and other sellers in a reverse merger transaction on July 12, 2017. As on July 13, 2017, definite agreement has been signed. The merger ratio is 1: 54.9714227. KTB Special Purpose Acquisition Company 2 Co., Ltd. will issue 54.97 million shares in the transaction. As reported October 12, 2017, the merger ratio was changed to 1: 54.973077. KTB Special Purpose Acquisition Company 2 Co., Ltd. will issue 54.97 million shares in the transaction. Classys Inc. will continue to survive and do business and will be listed on the KOSDAQ market. Board of Directors of KTB Special Purpose Acquisition Company 2 Co., Ltd. made a resolution in favor of the transaction on July 12, 2017. The general meeting of shareholders date is October 26, 2017. The transaction has been approved by the shareholders of KTB Special Purpose Acquisition Company 2 Co., Ltd. during the general meeting of shareholders on November 8, 2017. The merger date is November 27, 2017. As per new amendment merger date is rescheduled to December 12, 2017. Ernst & Young Han Young acted as external rating institution.

Classys Inc. completed the acquisition of KTB Special Purpose Acquisition Company 2 Co., Ltd. (KOSDAQ:A214150) from AfreecaTV Co., Ltd. (KOSDAQ:A067160), KTB Investment & Securities Co., Ltd. (KOSE:A030210) and other sellers in a reverse merger transaction on December 12, 2017. The head office location will be changed as a result of the transaction from December 13, 2017. On December 13, 2017, Jungjin Kim resigned as External Director following completion of the transaction and Sungjae Jung became a Chief Executive Officer.