Thumbage Co.,Ltd. signed an agreement to acquire KB No.6 Special Purpose Acquisition Company (KOSDAQ:A208640) from LS Asset Management Co., Ltd. and other investors in reverse merger transaction on September 10, 2015. As reported, the merger ratio is 1:9.6164251 between KB No.6 Special Purpose and Thumbage. A total of 106.52 million new shares will be issued by KB No.6 Special Purpose Acquisition for the merger. KB No.6 Special Purpose Acquisition Company will survive and Thumbage will be dissolved after the merger. A general meeting of stockholders is expected to be held on December 23, 2015. The Board of Directors passed a resolution for the transaction on September 10, 2015. The merger is expected to close by January 26, 2016 and registered by January 28, 2016. The new shares will be listed on February 11, 2016. As of November 30, 2015, the date of general meeting of stockholders, the merger date and the merger registration date is undecided. As of January 22, 2016, the merger ratio was amended to 1:5.5719807. A total of 61.72 million new shares will now be issued by KB No.6 Special Purpose Acquisition for the merger. The general meeting of stockholders will be held on March 9, 2016. As of February 23, 2016, merger ratio was decided as 1:5.1429952. As of February 29, 2016, merger ratio was amended as 1:5.1086957. The number of new stocks issued will now be 56.59 million. As of March 7, 2016, the exchange ratio was amended to 1:5.0574879 and KB No.6 Special Purpose Acquisition Company will issue 56.02 million shares as consideration. The merger is expected to close on April 12, 2016. The closing date of the transaction has been extended from April 12, 2016, to April 28, 2016. As of March 22, 2016, the deal was approved by the shareholders of KB No.6 Special Purpose Acquisition. As announced on May 10, 2016, KB No.6 Special Purpose Acquisition Company will change its name to Thumbage Co., Ltd., effective May 13, 2016. Samduk acted as the accountant to KB No.6 Special Purpose Acquisition Company.

Thumbage Co.,Ltd. completed the acquisition of KB No.6 Special Purpose Acquisition Company (KOSDAQ:A208640) from LS Asset Management Co., Ltd. and other investors in reverse merger transaction on April 26, 2016.