BIKE-O & COMPANY Ltd. (TSE:3377) announced that it has entered into agreement for a private placement of 150,000 treasury shares at ¥215 per share for gross proceeds of ¥32,250,000 on November 8, 2016. The shares will be issued to G-7 Holdings, Inc. (TSE:7508). Pursuant to the transaction, the investor shall acquire 0.98% stake in the company.

The transaction is expected to be completed by November 25, 2016. The company will issue shares through third party allotment.