Tenpo Innovation CO.,LTD. announced a private placement of 9,000 3rd stock acquisition rights at ¥262 per stock acquisition right for gross proceeds of ¥2,358,000 on November 20, 2023. The transaction included participation from new investor Tokai Tokyo Financial Holdings, Inc. The potential shares from the issuance of stock acquisition rights will be 900,000 shares. The initial exercise price of stock acquisition rights ¥1,198 for a period from December 7, 2023 to December 7, 2026.

The transaction will happen through third party allocation. The company will incur issuance expenses with respect to the transaction including attorney's fees, valuation expenses for the stock acquisition rights, and other administrative expenses (securities registration statement preparation expenses, change registration expenses, etc.). The issue date for stock acquisition rights will be December 6, 2023.

The transaction has been approved at board of directors? meeting of the company.