Fringe81 Co, Ltd. (TSE:6550) announced a private placement of 366,200 shares at the price of ¥437 per share for gross proceeds of ¥157,029,400 and 22,204 6th stock acquisition rights at the price of ¥214 per rights for gross proceeds of ¥4,751,656 for total proceeds ¥164,781,056 on December 3, 2020. The transaction will include participation from Sansan, Inc. (TSE:4443) which will acquire share through third party allotment and will have 2.83% stake after the transaction and right to Credit Suisse Securities (Japan) Limited. The period during which the stock acquisition rights can be exercised shall be from December 25, 2020 to December 26, 2022.

The shares net proceeds would be ¥157,029,400. The stock acquisition right will enable the investor to acquire 2,220,400 shares for gross proceeds of ¥1,068,645,656. The allocation date and payment date for the stock acquisition rights and common stock is December 24, 2020.