Social Ecology Project Co., Ltd. announced that it has received ¥108 million in funding from R-1 GK and other investor.
May 30, 2014 at 12:00 am EDT
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Social Ecology Project Co., Ltd. (JASDAQ:6819) announced a private placement of 9,000,000 common shares at ¥54 per share for gross proceeds of ¥486,000,000 on May 14, 2014. The shares will be issued by third party capital increase. The transaction will include participation from R-1 GK for 5,000,000 shares, Sumio Yachida for 3,000,000 shares, and Hiroto Sakuma for 1,000,000 shares. Pursuant to the transaction, R-1 GK will hold 14.21% stake in the company and become its top shareholder. The company will receive net proceeds of ¥477,711,000 after estimated amount of various issue costs of ¥8,289,000 including registration expenses of ¥1,701,000, examination company expenses of ¥5,292,000, legal opinion report expenses of ¥324,000, and third party committee installation expenses of ¥972,000. The company has received board of directors' approval for the transaction. The transaction will close on May 30, 2014.
On May 19, 2014, the company announced that the transaction was temporarily restrained due to a petition filed by an existing investor, Kazuhiko Ueda.
On May 27, 2014, the company announced that it has received the ruling of dismissal by the Tokyo District Court. The case was rejected by the court and the issuance of new shares through the transaction is legal.
On May 30, 2014, Social Ecology Project Co., Ltd. closed the transaction. The company issued 2,000,000 shares for gross proceeds of ¥108,000,000 in the transaction. Existing investor, R-1 GK and Hiroto Sakuma invested for 1,000,000 shares each, and hold 3.51% and 2.82% stake in the company respectively. The company received net proceeds of ¥99,711,000 after estimated various expenses for the issuance of ¥8,269,000.
Izu Shaboten Resort Co.,Ltd is primarily engaged in the operation of leisure business. The leisure business is engaged in the operation of Izu Shaboten Zoological Park, Izu Grand Park, New York Lamp Museum & Flower Garden, Izu Marine Park Diving Center, and Izu Kogen Travel Station Grand Portal Port through the Companyâs subsidiary. The Company is also engaged in the leasing of real estate. Through its subsidiary, the Company is also engaged in the production of advertisement-related video, and planning and production of event.