Gexeed Co., Ltd. announced that it expects to receive ¥66.888 million in funding from Milestone Capital Management Co., Ltd.
August 01, 2019
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Gexeed Co., Ltd. (JASDAQ:3719) announced a private placement of 500,000 shares at a price of ¥120 per share for proceeds of ¥60,000,000 and 4,100,000 5th new warrants at a price of ¥1.68 per warrant for proceeds of ¥6,888,000, for aggregate gross proceeds of ¥66,888,000 to existing investor Milestone Capital Management Co., Ltd. on August 2, 2019. The investor will hold 19.91% stake upon exercise of warrants. The company has issued the shares at a premium to face value of ¥60 per share. The warrants are exercisable at ¥120 per share for proceeds of ¥492,000,000 between August 20, 2019 to August 19, 2021. The company will incur ¥9,000,000 as registration costs, new warrants design and evaluation costs, research costs for allocation, etc. The expected payment date is August 20, 2019. The transaction has been approved by the board of directors of the company.
GEXEED CO.,LTD. is a Japan-based company mainly engaged in the information technology (IT) consulting business. The Companyâs main products including system consulting, business consulting, Chief Information Officer (CIO) and Chief Marketing Officer (CMO) support, Website marketing support, public offering support, Mergers and Acquisitions (M&A) and corporate revitalization consulting, among others. The Companyâs main services include JD Edwards, business consulting, information technology (IT) systems e-business consulting and cloud service.