BroadBand Tower, Inc. announced that it expects to receive ¥359.0275 million in funding from Macquarie Bank Limited
April 04, 2019
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BroadBand Tower, Inc. (JASDAQ:3776) announced that it will receive JPY 359,027,500 in a round of funding from Macquarie Bank Limited on April 5, 2019. The company will issue 1,150,000 common shares at a price of JPY 304.85 per share for gross proceeds of JPY 350,577,500 and 65,000 series 10 warrants at price of JPY 130 per warrant; for aggregate proceeds of JPY 359,027,500. The company will 6,500,000 common shares upon the exercise of warrants. The minimum exercise price for the warrants is JPY 201 and initial exercise price is JPY 335. The warrants can be exercised from April 23, 2019 to April 22, 2021. The company will pay legal expenses, appraisal expenses, trust bank expenses, etc as issue expenses.
BroadBand Tower, Inc. is a Japan-based company engaged in data center business and broadband distribution business. The Company operates in three business segments. The Computer Platform segment is involved in data centers, cloud solutions, data solutions, and the provision of other businesses. The IoT and AI Solutions segment is engaged in the provision of AI solutions utilizing natural language analysis technology, as well as IoT business and new business. The Media Solutions segment is engaged in the development of video distribution services for consumers, and Internet cinema using IoT Square. In addition, the segment is also engaged in the establishment of communication network for cable TV operators and program providers in Japan.
BROADBAND TOWER, INC. 