Gexeed Co., Ltd. announced that it expects to receive ¥81.21 million in funding from Milestone Capital Management Co., Ltd., T.O. Corporation, and other investors.
September 02, 2013 at 12:00 am
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Gexeed Co., Ltd. (JASDAQ:3719) announced a private placement of 625,000 common shares at ¥81 per share, six 2nd unsecured convertible corporate bonds with share purchase warrants at ¥5,000,000 per bond, and 29 units of 2nd share purchase warrants at ¥20,000 per warrant for gross proceeds of ¥81,205,000 on September 2, 2013. The bonds are convertible into 410,958 shares at ¥73 per share. The bonds carry an interest rate of 1.50%. The company will issue the 29 warrant units representing 1,450,000 shares exercisable into common shares at ¥73 per share. The shares will be subscribed by T.O. Corporation, Kazuo Hosoi, the Director and President of the company, Takayuki Ohshima, Atsuhito Hamada, and Takahide Morikawa, the Directors of the company. T.O. Corporation will subscribe to 562,500 shares, Kazuo Hosoi will subscribe to 37,500 shares, Takayuki Ohshima will subscribe to 12,500 shares, Atsuhito Hamada will subscribe to 6,250 shares, and Takahide Morikawa will subscribe to 6,250 shares. The bonds and warrants will be subscribed by Milestone Capital Management Co., Ltd.
The company will bear expenses of ¥4,000,000 including ¥2,500,000 for lawyer, corporate bonds and share purchase warrant evaluation expenses, ¥1,000,000 for registration-related expenses, and ¥500,000 for other various expenses including for shareholder service commission and external research expenses. The securities will be issued by third-party allocation to the respective investors. To ensure fairness, the company requested for an evaluation of the corporate bond with share purchase warrant value from an independent third-party evaluation institution, Kanae Capital Management Co., Ltd., and acquired the evaluation report on the corporate bonds with share purchase warrants. The transaction was approved at the board of directors' meeting of the company. Pursuant to the transaction, T.O. Corporation will increase its stake from 28.16% to 31.76%. The payment date for the transaction will be September 18, 2013.
GEXEED CO.,LTD. is a Japan-based company mainly engaged in the information technology (IT) consulting business. The Companyâs main products including system consulting, business consulting, Chief Information Officer (CIO) and Chief Marketing Officer (CMO) support, Website marketing support, public offering support, Mergers and Acquisitions (M&A) and corporate revitalization consulting, among others. The Companyâs main services include JD Edwards, business consulting, information technology (IT) systems e-business consulting and cloud service.
Gexeed Co., Ltd. announced that it expects to receive ¥81.21 million in funding from Milestone Capital Management Co., Ltd., T.O. Corporation, and other investors.