J Escom Holdings,Inc. (JASDAQ:3779) announced private placement of 3,529,500 ordinary shares at a price of ¥85 per share and 23,530 series 7 warrants at ¥57 per warrant for gross proceeds of ¥301,348,710 on February 29, 2016. The transaction will include participation from new investors, Kwang Jin-Chung for 2,353,000 shares and 23,530 warrants and Ashita Create Co., Ltd for 1,176,500 shares respectively. The company will issue the securities via third party allocation method.

The investors will acquire 24.39% and 12.19% stakes in the company through the shares issuance. The warrants are exercisable into 2,353,000 shares of the company at an exercise price of ¥85 per share. The stake of another Japan-based company will decrease to 7% from 11.04%.

The company expects to incur issue expenses as part of the transaction. The transaction is expected to close by March 24, 2016.