istyle Inc. (TSE:3660) announced a private placement of 6,100,000 common shares at a price of ¥345 per share for gross proceeds of ¥2,104,500,000 on November 6, 2020. The transaction will include participation from new investor Locoguide Inc. (TSE:4497) for 8.54% stake. Post closing, the shares capital of the company will increased by ¥1,052,250,000 at a price of ¥172.5 per share.

The company will issue securities through third-party allotment method. The transaction is expected to close on November 25, 2020. The transaction has been approved by the board of director's of the company.