Alphax Food System Co.,Ltd announced that it has received ¥520.20 million in funding from RIC Management Partners,Inc. and another investor.
December 04, 2014 at 11:00 pm
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Alphax Food System Co.,Ltd (JASDAQ:3814) announced a private placement of 900,000 shares at ¥578 per share for gross proceeds of ¥520,200,000 on November 12, 2014. The transaction will include participation from new investor RIC Management Partners,Inc. which will invest for 800,000 shares and existing individual investor Hideya Kamata, who will invest for 100,000 shares. As part of the transaction, RIC Management Partners,Inc. will acquire 25.96% stake in the company. Hideya Kamata will hold 17.84% stake in the company upon completion of the transaction. The securities will be issued through third party allocation. The investors will inject ¥260,100,000 into the registered capital of the company. As part of the round, RIC Management Partners,Inc. will appoint two representatives on the board of directors of the company. The shares being issued are subject to a hold period of six months from the date of issuance. The company incurred issuance expenses of ¥19,500,000 including ¥500,000 for the share evaluation by a CPA, ¥1,500,000 for the 3rd party committee expenses, ¥2,000,000 for registration related expenses, ¥500,000 for attorney fees, and ¥15,000,000 for financial advisor fees. Hiroki Ohya of Renatus Partners Co., Ltd. acted as the financial advisor to the company. The payment date for the transaction is November 28, 2014. On the same date, the transaction was approved by the board of directors of the company. Azone Partners Inc. will act as an audit and accountant firm to the company for the transaction and assisted in the share price calculation.
On November 12, 2014, the company amended the terms of the transaction via a corporate resolution by its board. The settlement date and the application date for the shares are now expected on December 5, 2014.
On December 5, 2014, Alphax Food System Co.,Ltd closed the transaction.
Alphax Food System Co., LTD. is a Japan-based company mainly engaged in the provision of restaurant-related system products. The Company has three business segments. The Application Service Provider (ASP) Services segment is engaged in the provision of specialized mission-critical systems for restaurant industry by ASP, including revenue analysis system, attendance management system, stock management and analysis systems, ordering system and central kitchen system. The System Equipment segment is engaged in the sale of its own products, including point of sales (POS) systems and order entry systems (OESs). The Peripheral Services segment is engaged in the sale of point cards terminals, automotive change terminals, cash account machines and others companies' equipment, as well as the sale of various consumable goods related to POS systems and order entry systems.
ALPHAX FOOD SYSTEM CO., LTD 
