Gala Incorporated (JASDAQ:4777) announced a private placement of 633,000 common shares at a price of ¥395 per share for gross proceeds of ¥250,035,000 and 20,254 warrants at a price of ¥420 per warrant for gross proceeds of ¥8,506,680; for aggregate gross proceeds of ¥258,541,680 on March 28, 2018. Each warrant can be converted into 100 shares at a fixed exercise price of ¥395. The warrants will be granted on April 13, 2018. The transaction will take place through third party allotment. The transaction will include participation from existing investor Oak Capital Corporation, Investment Arm for 506,400 shares and all the warrants and Satoru Kikugawa; Chief Executive Officer for 126,600 shares. The payment date is April 13, 2018. The transfer of stock warrant requires the approval from board of directors of the company.