Amagasa Co., Ltd. (JASDAQ:3070) announced a private placement of 480 series 2 stock acquisition rights at a price ¥16,500 per unit for gross proceeds of ¥7,920,000 on March 25, 2021. The transaction will involve participation from existing investor Milestone Capital Management Co., Ltd. for 200 units (2,000,000 shares), Admiral Capital Co., Ltd. for 120 units (1,200,000 shares), Mirai Intellectual Property and Technology Research Center Co., Ltd. for 80 units (800,000 shares), existing investor GeoBrain Corporation for 30 units (300,000 shares), Caia Project Co., Ltd. for 30 units (300,000 shares) and Japan Silver Fleece, K.K. for 20 units (200,000 shares). The company will issue 10,000 share per acquisition right, resulting in 4,800,000 potential shares. The Initial exercise price is fixed at ¥284 per share. The acquisition right exercise period is from April 29, 2021 to April 28, 2024. Post exercise of rights the company will raise gross proceeds of ¥1,371,120,000, pay expenses of ¥8,000,000, resulting in net proceeds of ¥1,363,120,000. Post transaction, on the assumption of the exercise of the rights, Milestone Capital Management Co., Ltd., Admiral Capital Co., Ltd., Mirai Intellectual Property and Technology Research Center Co., Ltd., GeoBrain Corporation, Caia Project Co., Ltd. and Japan Silver Fleece, K.K. will hold 31.95%, 14.10%, 9.40%, 4.11%, 3.52% and 2.35% stake respectively in the company. The transaction is expected to close on April 28, 2021. The transaction has been approved by the board of directors of the company and is subject to the approval at the Ordinary General Meeting of Shareholders scheduled to be held on April 27, 2021. Currently Milestone Capital Management Co., Ltd. hold 16.70% stake and GeoBrain Corporation hold 1.39% stake in the company.

On March 29, 2021, the company announced that it will receive gross proceeds of ¥1,371,120,000 upon exercise. The transaction will also include participation from Striders Corporation (JASDAQ:9816), The Obrain Co., Ltd., Etsuzo Amagasa, Tamiko Amagasa, Ryuzo Amagasa