ZUM Internet Corp. (XKON:A229480) signed an agreement to acquire Goldenbridge No.3 Special Purpose Acquisition Co., Ltd. (KOSDAQ:A219580) from Synergy IB Investment Co., Ltd and other shareholders' in a reverse merger transaction on June 15, 2017. Under the terms of the transaction, Goldenbridge No.3 Special Purpose Acquisition Co., Ltd will acquire ZUM Internet Corp. and will issue 20.85 million shares as consideration. The exchange ratio between Goldenbridge No.3 Special Purpose Acquisition Co., Ltd and ZUM Internet Corp. is 1:1.9489270. After completion of the transaction, ESTsoft Corp. along with special related parties will hold 59.42% stake in Goldenbridge No.3 Special Purpose Acquisition Co., Ltd. After the transaction, Goldenbridge No.3 Special Purpose Acquisition Co., Ltd. will be the surviving company and ZUM Internet Corp. will be the dissolved. However, Goldenbridge No.3 Special Purpose Acquisition Co., Ltd. will continue the business of ZUM Internet Corp. and its name will be changed to ZUM Internet Corp. The Board of Directors passed a resolution for the transaction on June 15, 2017. The meeting of shareholders' is expected to be held on September 27, 2017. The transaction is expected to be completed on October 31, 2017. The merger registration planned date is November 3, 2017. Ernst & Young, Korea acted as the external rating institution. ZUM Internet Corp. (XKON:A229480) cancelled the acquisition of Goldenbridge No.3 Special Purpose Acquisition Co., Ltd. (KOSDAQ:A219580) from Synergy IB Investment Co., Ltd and other shareholders' in a reverse merger transaction on August 11, 2017. The transaction was cancelled due to the receipt of notice of disapproval from the preliminary examination of merger listing of Korea Exchange, which was a prerequisite for the merger contract.