Pixela Corporation announced that it will issue 40 3rd unsecured convertible bond-type bonds with stock acquisition rights at a price of ¥12,500,000 for gross proceeds of ¥500,000,000 and 900,000 12th stock acquisition rights at a price of ¥2 for gross proceeds of ¥1,800,000 for aggregate gross proceeds of ¥601,350,000 on March 18, 2022. The transaction will include participation from returning investor, Evo Fund, a fund managed by Evolution Capital Management, LLC. The company is issuing securities through third party allotment.

The bonds bear an interest of 0% and are redeemable on April 4, 2024. The 12th stock acquisition rights are convertible into 121,645,560 shares at a minimum exercise price of ¥15.8 and initial exercise price of ¥29 per share. The transaction is expected to close on April 4, 2022.