Solasia Pharma K.K. announced that it has entered into capital and business alliance agreement for 12,000,000 shares at issue price of Ã85 per share for gross proceeds of Ã1,020,000,000 on June 28, 2022. The transaction will include participation from new investor, Nippon Kayaku Co., Ltd. for 7.77% stake in the company. The transaction is expected to close on July 14, 2022.
Of the total capital increase, Ã510,000,000 will go for capital increase and Ã510,000,000 for capital reserve of the company. The company has incurred Ã30,000,000 for issuance cost receiving net proceeds of Ã990,000,000. The investor cannot prior written consent of the company if the company transfers, succeeds, sets security interests or otherwise disposes of the shares with Nippon Kayaku Co., Ltd. within two years.
The transaction has been approved by the board of directors of the company.