Gexeed Co., Ltd. announced private placement that it will issue 1,190,400 shares at an issue price of ¥252 per share for proceeds of ¥299,980,800 and 21,505 6th Stock Acquisition Rights for proceeds of ¥8,042,870 for aggregate gross proceeds of ¥308,023,670 on June 30, 2023. The transaction will include participation from B&D Energy Fund L.P. The transaction is expected to close on July 18, 2023. The transaction was approved by the board of directors of the company.

The company will receive funding through third- party allocation. The company will receive net proceeds of ¥898,713,170.