Space Shower Networks Inc. (JASDAQ:4838) announced as private placement of 640,000 common shares with new investor Fuji Media Holdings, Inc. at ¥411 per share for gross proceeds of ¥263,040,000 on May 22, 2015. The transaction will take place through third party allotment. As a part of the round, the investor will acquire a total of 16.65% stake in the company.

The transaction has been approved by its board of directors. The capital and business alliance start date and payment date for the transaction is June 8, 2015. The company will incur ¥22,000,000 as cost for the transaction for paying of registration and license tax, document creation costs for securities registration statement, etc., and advisory fees.