3-D Matrix, Ltd. announced that it expects to receive ¥1.31202 billion in funding from CVI Investments, Inc.
March 28, 2019
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3-D Matrix, Ltd. (JASDAQ:7777) announced that it has entered into a purchase agreement of a private placement of 1st unsecured convertible bond with 30 warrants for gross proceeds of ¥1,299,990,000, 16,000 series 20 warrants at a price of ¥438 per warrant for gross proceeds of ¥7,008,000 and 9,000 series 21 new warrants at a price of ¥5,022,000, for aggregate gross proceeds of ¥1,312,020,000 on March 29, 2019. Each warrant will entitle the holders to 100 shares. Series 20 warrants will be exercisable at a price of ¥524 between April 16, 2019 and October 15, 2019. Series 21 warrants will be exercisable at a price of ¥582 between April 16, 2019 and April 24, 2023. The company is raising funding through third party allotment. The transaction will include participation from CVI Investments, Inc. The bonds will bear zero interest rate and will be redeemed on May 2, 2022. The bonds will be convertible into 2,233,659 common shares at a conversion price of ¥582 per share. The transaction has been approved by the board of directors of the company. The company will incur issue expenses of ¥35,000 in the transaction. The transaction is expected to close on April 15, 2019. All the securities issued upon conversion in the transaction will have a lockup period of 180 days.
3-D Matrix, Ltd. is a company engaged in the research, development, manufacture and sale of medical products. The Company has Medical Product segment. The segment consists of two divisions. The medical product development and sales division is engaged in the research and development of medical equipment and drugs for surgery area, regeneration medicine area and drug delivery system (DDS) area based on the self-organizing peptide technology, including hemostatic, vascular embolization and alveolar bone reconstruction materials, among others. The research reagents sales division is engaged in the sale of medical products based on the self-organizing peptide technology for research and test use in universities and research institutes.
3-D MATRIX, LTD. 