Dream Vision Co., Ltd. announced that it expects to receive ¥1.712 million in funding from Evolution Capital Management, LLC
May 14, 2020
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Dream Vision Co., Ltd. (TSE:3185) entered into a third party allotment agreement with existing investor Evo Fund; a fund managed by Evolution Capital Management, LLC for private placement of 2,900,000 stock acquisition rights for gross proceeds of ¥1,712,000 on May 15, 2020. The company will issue 1,000,000 8th stock acquisition rights at a price of ¥0.67 per right, 1,000,000 9th stock acquisition rights at a price of ¥0.61 per right, and 900,000 10th stock acquisition rights at a price of ¥0.48 per right. The warrants are exercisable at an initial exercise price of ¥262 per share. The 8th stock acquisition rights can be exercised from June 8, 2020 until June 3, 2021, 9th stock acquisition rights from June 7, 2021 to June 3, 2022, and 10th stock acquisition rights from June 6, 2022 to June 2, 2023. The company issued warrants through the third party allotment. The transaction was approved by board of directors. The transaction is expected to complete on June 5, 2020.
DREAM VISION CO.,LTD. is a Japan-based company engaged in the sale of apparel, jewelry and toy products, as well as the consulting business. The Company has four business segments. The Apparel segment is engaged in the sale of fashion related products such as clothing, shoes and miscellaneous goods for women on the e-commerce (EC) site, and the sale of clothing at department stores. For sales on the EC site, the Company uses the Speciality Store Retailer of Private Label Apparel (SPA) techniques from product planning to manufacturing and retailing. The brands include Newlyme, Diable Baiser, Dear My Love and NARACAMICIE. The Jewelry segment is engaged in the sale of bridal jewelry products such as rings at independent stores, fashion buildings and hotels. The Toy segment is engaged in the sale of toy products to toy makers. The Consulting segment is engaged in the provision of consulting services such as logistics support services and EC business promotion support services.