Sharingtechnology, Inc. announced that it expects to receive ¥3.978 million in funding from Mizuho Securities Co., Ltd., Investment Arm
January 13, 2020
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Sharingtechnology.Inc (TSE:3989) announced a private placement of 34,000 10th series share acquisition rights at a price of ¥117 per unit for gross proceeds of ¥3,978,000 on January 14, 2020. The transaction will involve participation from Mizuho Securities Co., Ltd., Investment Arm. The transaction will take place through third party allotment. After January 31, 2020, the exercise price shall be amended to the amount equivalent to 92% of the closing price of the company’s common share on The Tokyo Stock Exchange Inc. on the trading day immediately prior to the effective date of each request for the exercise of the share acquisition rights, with any fraction of less than ¥1 being rounded down. However, if this price is below the lower limit exercise price, the lower limit exercise price shall be the amended exercise price. The company will issue 100 shares per acquisition right, resulting in 3,400,000 dilutive shares. The upper limit exercise price is not set, the lower limit exercise price is ¥313 and under the lower limit exercise price, the number of dilutive shares is 3,400,000. The acquisition right exercise period is from January 31, 2020 to April 28, 2020, not exceeding 60 trading days. Post exercise, the company will have net proceeds of ¥1,513,378,000. The transaction is expected to close on January 30, 2020.
SHARINGTECHNOLOGY.INC is a Japan-based company mainly engaged in the Web business and investment business. It operates through two business segments. WEB business is engaged in the provision of solution to life problems through the operation of the portal site Life No.110 and the specialized vertical media site in the life service area. Member stores can provide services suited to the needs of users in the websites. Main services are unlocking and replacing keys, rain and water leakage, remodeling, glass repair, pet funeral, termite extermination, bee extermination, garden maintenance related, and other accidents that occur suddenly in daily life. It is also engaged in the operation of overseas studying service Sumadome, introducing foreign students and providing study abroad procedures. The new system Mover collects the geographical location of each member store staff and realizes matching. The Investment business includes manufacturing, real estate, and private hotel business.