Gexeed Co., Ltd. (JASDAQ:3719) announced a private placement of 48 units of 3rd series warrants at ¥10,100 per warrant for gross proceeds of ¥484,800 on October 20, 2014. The transaction will include participation from existing investor, Milestone Capital Management Co., Ltd. The company will issue the warrants via third party allocation. The warrants issued as part of the transaction will be exercisable into 2,400,000 shares of the company at a fixed exercise price of ¥100 per share.

The exercise period of the warrants will be from November 5, 2014 to November 4, 2016. The allotment date for the warrants is expected on November 5, 2014. The company expects to incur certain issuance costs as part of the transaction which includes legal fees, warrant evaluation expenses, registration related expenses, and other expenses.

The transaction was approved by the board of directors of the company. The issuance of the warrants and contract conclusion will be known as equity commitment line.