A.D.Works Co.,Ltd. (TSE:3250) announced a private placement of 450,000 19th series warrants at ¥40 per warrant for gross proceeds of ¥18,000,000 on May 12, 2016. The transaction will include participation from existing investor, Milestone Capital Management Co., Limited. The company and the investor entered into an investment contract on the same date. The warrants are exercisable into 45,000,000 shares of the company at a fixed exercise price of ¥45 per share. The allotment date for the warrants is expected on May 30, 2016. The transaction is through third party allotment of securities to the investor. The exercise period of the warrants will be from May 23, 2016 to May 29, 2018. On exercise of the warrants, the investor will hold 16.73% stake in the company. 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.