UST Co., Ltd. signed an agreement to acquire Shinyoung HappyTomorrow No.3 Special Purpose Acquisition Company (KOSDAQ:A263770) in a reverse merger transaction on October 27, 2017. Under the terms of transaction, the shares will be exchanged at the ratio of 1:70.7006737, resulting into issuance of 20.2 million new shares. Post completion, Shinyoung HappyTomorrow will continue to exist and UST Co., Ltd. will be dissolved. The general meeting of shareholders will be held on February 13, 2018. As of December 19, 2017, the general meeting of shareholders will be held on February 8, 2018. As on February 8, 2018, the transaction has been approved by the shareholders of Shinyoung HappyTomorrow No.3 Special Purpose Acquisition Company. The transaction will be completed on March 16, 2018. As of December 19, 2017, the transaction will be completed on March 13, 2018. Hanul Accounting Corporation acted as an external rating institution for the transaction. UST Co., Ltd. completed the acquisition of Shinyoung HappyTomorrow No.3 Special Purpose Acquisition Company (KOSDAQ:A263770) in a reverse merger transaction on March 13, 2018. Sungjin Jung and Soobong Cho, the Chief Executive Officer resigned and Jongsik Kim was appointed as new Chief Executive Officer as a part of the transaction. The headquarter of Shinyoung HappyTomorrow No.3 Special Purpose Acquisition Company will change from 16, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul to 290, Cheolgang-ro, Nam-gu, Pohang-si, Gyeongsangbuk-do.