Broadmedia Corporation (JASDAQ:4347) announced private placement of shares and convertible bonds for gross proceeds of ¥1,050,000,000 on April 28, 2016. The company will issue 400,000 shares at ¥125 per share for proceeds of ¥50,000,000 and 10,000,000 first series unsecured convertible corporate bonds at ¥100 per bond for proceeds of ¥1,000,000,000. The bonds will be issued at par.

The bonds have a face value of ¥100 and are convertible at ¥105 with 0% interest rate and maturity date of May 16, 2019. The company will also issue 40 warrants with bonds. Japan Opportunities Master Fund Ltd. will subscribe to bonds with warrants and Taro Hashimoto, President and director of the company will subscribe to all shares.

The company will incur issue costs of ¥7,000,000 which includes registration expenses, price calculation and investigation expenses, and securities registration statement creation expenses. The company will receive net proceeds of ¥1,043,000,000. The payment date of the transaction is May 16, 2016.