Wonbiogen Co., Ltd. (XKON:A278380) agreed to acquire Kyobo 8 Special Purpose Acquisition Company (KOSDAQ:A307280) from G-Mighty Asset Management Co., Ltd., Sooin Cosmetics Co., Ltd., Multi Asset Investment Co., Ltd. and others in a reverse merger transaction on August 7, 2020. The merger ratio will be 1:10.571. As of October 11, 2020, merger ratio will be 1:10.1605000. Payment will be made within one month from the end of the request period for stock purchase. Post-completion, Wonbiogen Co., Ltd. will be merged into Kyobo 8 Special Purpose Acquisition Company and Wonbiogen Co., Ltd. will disappear but in reality, Wonbiogen Co., Ltd. has the effect of listing on the KOSDAQ market while maintaining the continuity of this business. This corresponds to the backdoor listing of Wonbiogen Co., Ltd. The transaction is subject to approval from the shareholders of Kyobo 8 Special Purpose Acquisition Company. Shareholders' meeting will be held on December 16, 2020. Shareholders' meeting will now be held on December 21, 2020. As of December 21, 2021, the transaction was approved at the general shareholders' meeting of Kyobo 8 Special Purpose Acquisition Company. The stock purchase exercise period is between December 21, 2020 to January 11, 2021. The transaction is expected to close on January 19, 2021. As of November 11, 2020, the merger is expected to close on January 22, 2021. The remaining merger process will be completed and merged new stocks will be listed on the KOSDAQ market on February 9, 2021. Wonbiogen Co., Ltd. (XKON:A278380) completed the acquisition of Kyobo 8 Special Purpose Acquisition Company (KOSDAQ:A307280) from G-Mighty Asset Management Co., Ltd., Sooin Cosmetics Co., Ltd., Multi Asset Investment Co., Ltd. and others in a reverse merger transaction on January 25, 2021.