Daesin Balance No.9 SPAC Completes Absorption Merger with Blitzway... "Leap to Global Content Company"
[Asia Economy Reporter Yoo Hyun-seok] Daishin Balance No.9 SPAC announced on the 10th that the largest shareholders changed to Bae Seong-ung and three others (22,292,852 shares, 62.59%) through the absorption merger with Blitzway. In addition, CEO Bae Seong-ung was appointed as the sole representative.
Daishin Balance No.9 SPAC stated, "The newly appointed CEO Bae Seong-ung was appointed as an inside director through the resolution of the extraordinary general meeting of shareholders on the 5th of last month, and was appointed as the company's new CEO as of the merger registration date."
CEO Bae Seong-ung is a former CEO of KeyEast, the largest actor management company in Korea. Since 2018, he has led Blitzway, a figure specialty company. CEO Bae Seong-ung's shares will be locked up for 2 years and 6 months after listing, and directors Choi Seung-won and Kwon Hyuk-cheol's shares will be locked up for 1 year and 6 months. In addition, actor Bae Yong-joon, who holds 10.51% (3,848,162 shares), will have his shares locked up for 6 months. In total, 83.56% of the shares will be under lock-up.
Founded in 2010, Blitzway owns the live-action figure brand "Blitzway," based on Hollywood movies, the animation figure brand "Opro Studio," and the art toy brand "Truck380," among others.
Blitzway directly signs worldwide license contracts with Hollywood production companies and creates figures that faithfully reproduce iconic scenes from movies. Recently, it announced figure productions for the animation "Voltron," the game "League of Legends," and the sci-fi movie "Dune." Major partner companies include Disney, Universal Studios, Paramount Pictures, Fox, Sony, as well as HYBE, YG Entertainment, Nexon, NCSoft, and Pearl Abyss.
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Bae Seong-ung, CEO of Blitzway, said, "Through the KOSDAQ listing, collaboration with global content companies has become easier. We are preparing to expand our scope to OTT (online video service) content following movies and animations. We will strive to become a global kidult and content platform company."
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