Lake Materials Co., Ltd. entered into an agreement to acquire Dongbu 5th Special Purpose Acquisition Co., Ltd. (KOSDAQ:A281740) in a reverse merger transaction on October 11, 2019. Merger ratio for this transaction would be Dongbu 5th Special Purpose Acquisition Co., Ltd. : Lake Materials Co., Ltd.= 1:4.5885000. Dongbu will issure 60.13 million as part of this transaction. Post completion, Dongbu 5th Special Purpose Acquisition Co., Ltd. will change its name to Lake Materials Co., Ltd. The expected date for shareholder's meeting is January 30, 2020. The transaction is expected to be completed on March 3, 2020. Ichon Accounting Firm acted as external evaluation body in the transaction.