CAVE Interactive Co., Ltd. (JASDAQ:3760) announced a private placement of 216,000 shares common shares at a price of ¥1,387 per share for proceeds of ¥299,592,000 and 720 22nd series warrants at a price of ¥3,420 per warrant for proceeds of ¥2,462,400; for aggregate gross proceeds of ¥302,054,400 on May 10, 2018. The transaction will include participation from Forside Co., Ltd. (JASDAQ:2330) for 144,000 shares for proceeds of ¥199,728,000 to acquire 4.63% stake, existing investor Samurai&J Partners Co.,Ltd. (JASDAQ:4764) for 72,000 shares for proceeds of ¥99,864,000 and 720 warrants for proceeds of ¥2,462,400. Each warrant issued is exercisable at a price of ¥1,387 per share from May 29, 2018 to May 28, 2020.

The company will issue securities through a third party allocation method. The payment date is May 28, 2018. The transaction has been approved by the board of directors of the company.

The company reported issue expenses of ¥10,000,000.