Axel Mark Inc. (TSE:3624) announced a private placement of 204,900 common shares at a price of ¥1,708 per share for gross proceeds of ¥349,969,200 on March 28, 2018. The transaction will involve participation from KLab Inc. (TSE:3656). The company will issue the shares by a way of third party allotment.

Post the closing of the transaction, the investor will hold 4.46% stake in the company. The company reported issuance expenses of ¥2,000,000. The transaction is expected to close on April 13, 2018.

The transaction has been approved by the board of directors of the company.