AppBank Inc. announced that it has entered into capital and business alliance agreement with new investor PLANA Co., Ltd and returning investors STPR, Quantum Leaps, and Milestone to issue 1,110,000 common shares at an issue price of ¥85 per share for the gross proceeds of ¥94,350,000 and 88,900 13th stock acquisition rights at an issue price of ¥52 per right for the gross proceeds of ¥4,622,800; aggregate gross proceeds of ¥98,972,800 on February 16, 2024. The transaction will include participation from new investor PLANA Co., Ltd. for 1,110,000 shares and 10,000 rights and returning investors Milestone 53,900 rights, STPR 20,000 rights and Quantum Leaps 5,000 rights. The transaction has been approved by the shareholders of the company and is expected to close on April 1, 2024.

The transaction is also subject to general shareholders for common shares. The initial exercise price of rights is ¥85. The total amount of transaction is ¥854,622,800 and the net proceeds of transaction is ¥846,511,500.

The issuance costs of the transaction is ¥8,111,300.