SD Entertainment Inc. (JASDAQ:4650) announced a private placement of 186 units of 2nd series warrants at ¥23,000 per warrant for gross proceeds of ¥4,278,000 from Milestone Capital Management Co., Ltd. on February 12, 2015. The company announced that the each warrant is convertible into 5,000 common shares at a fixed initial exercise price of ¥1,299 per share from March 2, 2015 to March 1, 2017 and in case March 1, 2017 is not a banking day, the previous banking day will be the expiry day. The transaction will take place through third party allotment.

The transaction has been approved by its board of directors. The transaction is expected to close on March 2, 2015. The company incurred legal and warrant valuation expenses, registration-related expenses, and other expenses for the transaction.