Asahi Eito Co., Ltd. announced that it expects to receive ¥2.69693 million in funding
August 09, 2018
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Asahi Eito Co., Ltd. (TSE:5341) announced a private placement of 3,330 series 1 warrants at ¥737 per warrant for gross proceeds of ¥2,454,210 and 370 series 2 warrants at ¥656 per warrant for gross proceeds of ¥242,720 for an aggregate gross proceeds of ¥2,696,930 on August 10, 2018. Each series 1 and series 2 warrant is exercisable into 100 shares equivalent to 370,000 shares at ¥1,242 per share for gross proceeds of 459,540,000. The transaction will include participation from InfleXion II Investment Business Limited Partnership for 2,803 series 1 warrants and 311 series 2 warrants and Flagship Asset Management Investment Partnership No. 71 for 527 series 1 warrants and 59 series 2 warrants. The company will receive net proceeds of 303,957,500 in the transaction. The securities will be issued through third party allotment. The warrants can be exercised from August 27, 2018 to August 27, 2020. The company will incur issuance expenses for ¥9,200,000. The transaction is expected to be completed by August 27, 2018.
Asahi Eito Holdings Co Ltd is a Japan-based company mainly engaged in housing equipment business. The Company is mainly engaged in the manufacture, sale and purchase and sale of sanitary ware, flush toilet sets, and other related equipment, as well as vanity tables, makeup mirrors, top boards and others related toilet equipment. The Company is also engaged in the manufacture and sale of products such as faucet fittings, drain fittings, toilet accessories, and washbowls.