SecuAvail Inc. (JASDAQ:3042) announced a private placement of 160 series 4 warrants at ¥31,900 per warrant for gross proceeds of ¥5,104,000 on September 14, 2015. The transaction will include participation from Milestone Capital Management Co., Ltd. The company will issue the warrants via third party allotment method. The company entered into a contract with the investor for the transaction.

Each warrant is exercisable into 5,000 common shares of the company at an exercise price of ¥1,000 per share. The exercise period of the warrants will be from September 30, 2015 to September 29, 2017. The allocation date for the warrants is expected on September 30, 2015.

The company expects to incur certain issue expenses as part of the transaction which includes the warrants valuation expenses, registration-related expenses, and other expenses including legal, stock-related, administration, commissions, and external research expenses. The transaction was approved by the board of directors of the company.