HB Investment, Inc. entered into a contract to acquire NH Special Purpose Acquisition 23 Company (KOSDAQ:A422040) in a reverse merger transaction for KRW 12.5 billion on October 27, 2022. As per the terms, the merger ratio is 1 : 0.8510638. Upon completion, HB Investment will be the surviving entity and HB Corporation will be the largest shareholder of the surviving entity. Transaction is expected to be closed on March 29, 2023. As of March 16, 2023, the transaction is expected to close on July 14, 2023. As of April 12, 2023, the transaction is expected to close on August 14, 2023.

HB Investment, Inc. cancelled the acquisition of NH Special Purpose Acquisition 23 Company (KOSDAQ:A422040) on May 15, 2023.