Beat Holdings Limited (TSE:9399) announced a private placement of 700,000 common shares at a price of ¥85 per share for gross proceeds of ¥59,500,000 and 83,000 stock acquisition rights at a price of ¥132 per stock acquisition right for gross proceeds of ¥10,956,000 for aggregate gross proceeds of ¥70,456,000 on May 13, 2020. The transaction will included participation from TK Corporation Co., Ltd. The company will issue shares through third-party allotment method. The transaction is expected to close on May 29, 2020. The transaction was approved by board of directors of the company.