M H Group Ltd. (JASDAQ:9439) announced an agreement of 160,000 shares at issue price of ¥213 per share for gross proceeds of ¥34,080,000 to new investor TBCSCAT Inc. (JASDAQ:3974) on February 12, 2021. The investor will acquire 1.39% stake in the company post closing of the transaction. The company will issue shares through third party allotment.

The company incurs issuance cost of ¥300,000 in relation to the transaction receiving net proceeds of ¥33,780,000 in the transaction. The transaction is expected to close on March 9, 2021. The transaction has been approved by the board of directors of the company.