Amagasa Co., Ltd. announced that it expects to receive ¥3.5 million in funding from Milestone Capital Management Co., Ltd., Striders Corporation
January 30, 2020
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Amagasa Co., Ltd. (JASDAQ:3070) announced a private placement of 3,500,000 series 1 stock acquisition rights at a price ¥1 per unit for gross proceeds of ¥3,500,000 on January 31, 2020. The transaction will involve participation from Milestone Capital Management Co., Ltd. for 1,300,000 units and Striders Corporation (JASDAQ:9816) for 2,200,000 units. The company will issue 1 share per acquisition right, resulting in 3,500,000 potential shares. The exercise price is fixed at ¥264 per share. The acquisition right exercise period is from February 17, 2020 to February 16, 2022. Post exercise of rights the company will raise gross proceeds of ¥924,000,000, pay expenses of ¥20,000,000, resulting in net proceeds of ¥904,500,000. Post transaction, on the assumption of the exercise of the rights, Milestone Capital Management Co., Ltd. will hold 24.24% stake and Striders Corporation (JASDAQ:9816) will hold 41.02% stake in the company. The transaction is expected to close on February 17, 2020. The transaction has been approved by the board of directors of the company.
On the same date, the company received its first tranche from Striders Corporation (JASDAQ:9816). As part of the first tranche, Striders Corporation (JASDAQ:9816) acquired 18.26% stake in the company.
Striders Corporation is a Japan-based company mainly engaged in the real estate business, hotel business and overseas business. The Company operates in three business segments. The Real Estate segment is engaged in the residence business, building management business, rental brokerage business, real estate sales business, rent guarantee business and interior decoration business. The Hotel segment is engaged in the ownership and operation of hotels. The Overseas segment is engaged in the investment business mainly in Asia and developing countries, and the advertising agency business in Indonesia. The Company is also engaged in the development and sale of in-vehicle terminal systems, the manufacture and sale of Chinese noodles, the reorganize business, and the patent prior art search business.
STRIDERS CORPORATION 
