mobcast inc. (TSE:3664) announced a private placement of 12,000 series 27 warrants at a price of ¥679 per warrant for proceeds of ¥8,148,000 and 12,000 series 28 warrants at a price of ¥361 per warrant for proceeds of ¥4,332,000 for aggregate gross proceeds of ¥12,480,000 on September 20, 2017. The transaction will involve participation from existing investor Daiwa Securities Co., Ltd., Investment Arm. The warrants can be potentially converted into 2,400,000 common shares of the company between October 10, 2017 and October 9, 2019. The warrants have an initial exercise price of ¥825 per warrant. The transaction is expected to close on October 6, 2017