A.D.Works Co.,Ltd. (TSE:3250) announced a private placement of 530,000 21st series warrants at ¥19 per warrant for gross proceeds of ¥10,070,000 on August 2, 2018. The transaction will include participation from existing investor, Milestone Capital Management Co., Limited. The warrants are exercisable into 53,000,000 shares of the company at a fixed exercise price of ¥38 per share. The allotment date for the warrants is expected on August 20, 2018. The transaction is through third party allotment of securities to the investor. The exercise period of the warrants will be from August 20, 2018 to August 19, 2020. The company expects to incur certain issue expenses as part of the transaction. The transaction was approved by the board of directors of the company.