CAVE Interactive Co., Ltd. (JASDAQ:3760) announced a private placement of 760,000 shares common shares at a price of ¥591 per share for proceeds of ¥449,160,000 on December 11, 2018. The transaction will include participation from new investor, KeyHolder, Inc. (JASDAQ:4712). The investor will acquire 19.63% stake in the company.

The transaction has been approved by the board of directors of the company. Out of total proceeds, ¥224,580,000 will go to registered capital and ¥224,580,000 to capital reserve of the company. The company will issue shares by way of third party allotment.

The transaction has been approved by board of directors of the company. The transaction is expected to close on December 27, 2018.