C&R Research Co., Ltd. signed an agreement to acquire NH Special Purpose Acquisition 17 Company (KOSDAQ:A359090) in a reverse merger transaction on June 23, 2021. Following acquisition, largest shareholder of NH Special Purpose Acquisition 17 Company is ACPC, which holds a 14.27% stake (as of the end of 2020). It holds 49.62%.

Upon completion of the merger, the largest shareholder will be Yoon Moon-tae, and the stake including related persons will be 68.09%. When the merger of NH Special Purpose Acquisition 17 Company Co., Ltd. and C&R Research Co., Ltd. is completed, formally NH Special Purpose Acquisition 17 Company Co., Ltd. becomes a surviving corporation and C&R Research Co., Ltd. becomes an extinct corporation. After the merger with C&R Research, CRO Business, the main business of C&R Research, will be operated as its main business.

Transaction is expected to close by November 16, 2021.