Mobiis Co., Ltd. entered into merger contract to acquire Hana Financial Eighth Special Purpose Acquisition Company (KOSDAQ:A250060) from HFR, Inc., Jee Hun Kim, Euijae Lee, and Hyungki Kim in a reverse merger transaction on October 10, 2016. The shares will be exchanged at a ratio of 1:13.8120000 between Hana Financial Eighth Special Purpose Acquisition Company and Mobiis Co., Ltd. Post completion of the merger, Mobiis Co., Ltd. will continue to survive and do business and be listed on the KOSDAQ market. Expected closing of the merger is on March 7, 2017.

As on December 15, 2016, the terms of the transaction were revised. Hana Financial Eighth Special Purpose will now issue 21.03 million shares as consideration. Hana Financial Eighth Special Purpose Acquisition Company's shareholders meeting will be held on February 1, 2017 to approve the transaction. The Board of Directors of Hana Financial Eighth Special Purpose Acquisition Company made a resolution in favor of the transaction on October 10, 2016. As of February 1, 2017, the deal was approved by the shareholders of Hana Financial. The shareholders also approved the appointment of Kim, Jiheon, Lee, Euijae and Kim, Hyungki as internal Directors and Kim, Wootae as auditor of Hana Financial. JInil Accounting Corporation acted as accountant to Hana Financial Eighth Special Purpose Acquisition Company.

Mobiis Co., Ltd. completed the acquisition of Hana Financial Eighth Special Purpose Acquisition Company (KOSDAQ:A250060) from HFR, Inc., Jee Hun Kim, Euijae Lee, and Hyungki Kim in a reverse merger transaction on March 7, 2017. Jee Hun Kim will own 8.37 million shares, HFR, Inc. will own 2.39 million shares, Euijae Lee will own 2.61 million shares, and Hyungki Kim will own 2.61 million shares. Hana Financial changed the Chief Executive Officer to Kim Ji Heon from Kim Jeong Seop due to Kim Jeong Seop's resignation. Hana Financial's Executive Directors Taesung Kim, Sihwa Jung, and Hayong Song resigned. Following the merger, Hana Financial Eighth Special Purpose Acquisition Company's headquarters will be changed to Mobiis Co., Ltd.'s headquarters.