COENS Co., Ltd. agreed to acquire Kb No.11 Special Purpose Acquisition Company (KOSDAQ:A258790) in a reverse merger transaction on July 13, 2017. Under the terms of the transaction, Kb No.11 Special Purpose Acquisition Company will issue 21.6 million shares for a merger ratio of 1:4.0004764 between Kb No.11 Special Purpose Acquisition Company and COENS Co., Ltd. Post-acquisition, Kb No.11 Special Purpose Acquisition Company will be the dissolved entity and COENS Co., Ltd. will be the surviving entity, do business and be listed on the KOSDAQ market. The general meeting of shareholders is scheduled on October 31, 2017. The transaction is expected to complete on December 4, 2017. Accounting Firm DooRae Co., Ltd. acted as external rating institution.