Kainos Medicine, Inc. completed the acquisition of Hana Financial Eleventh Special Purpose Acquisition Company in a reverse merger transaction.
June 07, 2020
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Kainos Medicine, Inc. (XKON:A220250) agreed to acquire Hana Financial Eleventh Special Purpose Acquisition Company (KOSDAQ:A284620) in a reverse merger transaction on November 29, 2019. Under the terms of transaction, the merger ratio is: IBKS No.6 Special Acquisition Company:Elensys Co., Ltd., 1: 6.9. Kainos Medicine will acquire 97.1 million shares of Hana Financial Eleventh Special Purpose Acquisition Company. The transaction is subject to Kainos Medicine and Hana Financial Eleventh Special Purpose shareholder approval by at least two-thirds of voting rights. The transaction is expected to be completed on April 21, 2020. As of February 21, 2020, the transaction is expected to close on May 6, 2020. As of February 28, 2020 the transaction is expected to close on May 7, 2020. As of March 27, 2020, the transaction is expected to close on May 19, 2020. Hanmi Accounting Corporation acted as external evaluation body and Samjung Accounting Firm acted as external auditor in the transaction.
Kainos Medicine, Inc. (XKON:A220250) completed the acquisition of Hana Financial Eleventh Special Purpose Acquisition Company (KOSDAQ:A284620) in a reverse merger transaction on June 8, 2020.
Kainos Medicine Inc is a Korea-based company mainly engaged in the research and development of pharmaceuticals. The Company is engaged in the research and development of degenerative brain disease treatments, antiviral drugs, anticancer drugs and other products. In addition, the Company is engaged in the research and development of Parkinson's disease drugs, AIDS drugs, blood anticancer drugs and other products.