Beat Holdings Limited (TSE:9399) announced that it will issue 5,000,000 common shares in a round of funding on July 10, 2018. The transaction will include participation from new investor Wowoo Pte. Ltd. for 15.69% stake. The shares will be issued at 110% of the weighted average of the closing price of shares on Tokyo Stock Exchange for the one week period commencing on the date that is 2 weeks before the date of the shareholders meeting and ending on the date that is 1 week before the date of the shareholders meeting or a maximum of ¥6,600 per share. The transaction is subject to approval of shareholders and an general meeting and regulatory authority and effectiveness of the registration statement. The company will also issue 10,000,000 warrants exercisable within 2 years of issuance at 120% of the weighted average of the closing price of shares on Tokyo Stock Exchange for the one week period commencing on the date that is 2 weeks before the date of the shareholders meeting and ending on the date that is 1 week before the date of the shareholders meeting or a maximum of ¥7,201 per share. The payment date will be the business day following the shareholder's meeting or on the effective date of registration statement. The transaction ahs been approved by the board of directors of the company.