Soshin Electric Co.,Ltd. (TSE:6938) announced a private placement of 15 units consisting of 1st unsecured convertible bond type bonds with stock acquisition rights each for ¥100,000,000 per unit for gross proceeds of ¥1,500,000,000 on May 29, 2020. The bonds being issued are convertible into common shares of the company at ¥599 per share. The transaction involved participation from returning investor NGK Insulators, Ltd. (TSE:5333) for 6 units and Kamaya Electric Co., Ltd. for 9 units.

The securities will be allocated based on third-party allocation method. The transaction has been approved by the board of directors of the company. The payment date of the transaction is June 29, 2020.

The company will pay fees and expenses of ¥26,000,000.