Acrodea, Inc. announced that it expects to receive ¥186.32 million in funding from Waen Trading Co.,Ltd. and another investor
March 14, 2019
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Acrodea, Inc. (TSE:3823) announced a private placement of 1,000,000 common shares at a price of ¥173 per share for gross proceeds of ¥173,000,000 and 45,000 units of series 10 warrants at a price of ¥2.96 per warrant for total gross proceeds of ¥186,320,000 on March 15, 2019. The transaction include participation from returning investors, Waen Trading Co.,Ltd. for shares and will acquire 4.25% after issuance of shares, and 10.71% after issuance of 25,000 units of warrants and exercise of all warrants. The transaction also included participation from returning individual investor, Katsumi Tanabe. Post closing of the transaction, the investor's stake will increase from 17.51% to 23% and will receive 25,000 units of warrants. The minimum exercise price of warrants is ¥100 per share. The securities will be issued through third party allotment method. Exercise period of the warrants if from April 1, 2019 to March 29, 2024. The capital of the company will raise to ¥791,820,000, post the closing of the transaction.
The Why How Do Company Inc is a Japan-based company mainly engaged in the solution business, restaurant-related business and education-related business. The Company operates through three segments. The Solution business segment mainly consists of the platform field, which develops platform solutions for smartphones, internet of things (IoT)-related solutions, and systems for bingo; the content services field, which develops social games and application-related products and contracted games; and other contracted development projects. The Restaurant-related business segment is engaged in real estate subleasing, trademark rights management, and restaurant business. The Education-related business segment mainly operates seminars on information technology (IT) schools for job seekers, which have a training period of about half a year.