Pixela Corporation announced a private placement of 18th stock acquisition rights of 81,880 and 19th stock acquisition rights of 40,000 at an issue price of ¥1 per stock acquisition right for gross proceeds ¥81,880 and ¥40,000 on November 29, 2023. The company issued aggregate of 121,880 stock acquisition rights for a gross proceeds ¥121,880. The transaction will include participation from returning investor, Evo Fund, a fund managed by Evolution Capital Management, LLC.

Each stock acquisition right is exercisable at a price of ¥2 for 18th stock acquisition rights and 19th stock acquisition rights. Of the 2,850,000 units issued, the number of exercised units is only 325,000 units. The stock acquisition rights are issued through a third party allotment method.

The transaction is expected to close on December 29, 2023. The transaction has been approved by the board of directors of the company.