Vistos Co., Ltd agree to acquire Sk No.5 Special Purpose Acquisition Company (KOSDAQ:A337450) in reverse merger transaction on April 6, 2022. Under the terms of transaction, the merger ratio will be Vistos Co., Ltd.: SK No. 5 acquisition purpose Co., Ltd.=1 : 1.0752688.

28.6 million shares will be issued by Sk No.5 as consideration. Upon completion of the merger of the companies, the surviving corporation will be VISTOS Co., Ltd., and the purpose of the SK 5th acquisition will be extinguished. Through this merger, Vistos Co., Ltd. will actual company.

As of date,the largest shareholder of Vistos Co., Ltd. is Jeong Hui, with a stake of 27.35% and the expected stake ratio between the largest shareholder and their related parties after the merger is 47.73%. The Board of Directors of Sk No.5 Special Purpose passed resolution on April 06, 2022. Sk No.5 Special Purpose Acquisition Company will scheduled date of general meeting of existing shareholder on July 21, 2022.

This merger is subject to backdoor listing in accordance with Article 2. Expected date of registration of merger is August 24, 2022. As per the article on June 30, 2022, The transaction is expected to close on September 14, 2022. As of July 8, 2022, the transaction is expected to close on September 28, 2022.