MedRx Co., Ltd (TSE:4586) announced that it will issue 180,000 shares at a price of ¥545 for gross proceeds of ¥98,100,000 and series 14 2,320,000 warrants at a price of ¥0.54 for gross proceeds of ¥1,252,800, totaling gross proceeds of ¥99,352,800 on February 12, 2019. The transaction will involve participation from MM Co., Ltd. for the shares, reducing the stake from 5.09% to 4.25% and has entered into an agreement with EVO FUND for the warrants. The minimum exercise price is equivalent to 50% of the closing price on ordinary transactions of common shares on the stock exchange on the day immediately preceding the pricing date; however, the number of potential shares is 2,320,000 shares even at the minimum exercise price. There is no maximum exercise price. Warrants exercise period is from March 6, 2019 to July 8, 2019 The company expects to pay expenses of ¥12,000,000 towards legal expenses related to the issuance of new shares and warrants, appraisal expenses, trust bank expenses, and others, resulting in estimated net proceeds ¥87,352,800. The transaction is expected to close on March 5, 2019.