Kozosushi Co., LTD. (JASDAQ:9973) announced that it has entered into purchase agreement with investor for private placement of 5,800,000 7th stock acquisition rights at an issue price of ¥0.056 per stock acquisition right for gross proceeds ¥324,800 and 5,800,000 8th stock acquisition rights at an issue price of ¥0.052 for gross proceeds of ¥301,600 for aggregate gross proceeds of ¥626,400 on April 22, 2020. The transaction will include participation from returning investor Evo Fund, a fund managed by 'returning investor' Evolution Capital Management, LLC. Each stock acquisition right is exercisable into common share at a price and will receive proceeds of ¥101,324,800 on post exercise of 7th stock acquisition rights and ¥101,301,600 on exercise of 8th stock acquisition rights. The stock acquisition rights are issued through a third party allotment method. The exercise period of stock acquisition rights is from May 15, 2020 to May 14, 2021. The transaction has been approved by the board of directors of the company. The transaction is expected to close on May 14, 2020. The company will pay issue expenses of ¥4,500,000 for attorney fees, ¥2,000,000 for stock acquisition right evaluation costs, and ¥300,000 for investigating the allotted parties post exercise of warrants.