Goodspeed. Co., Ltd. announced that it expects to receive ?10.395 million in funding from Daiwa Securities Co., Ltd., Investment Arm
November 11, 2021
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Goodspeed. Co., Ltd. announced that it has entered into a purchase agreement for a private placement of 6,300 3rd stock acquisition rights at a price of ?1,650 per stock acquisition right for gross proceeds of ?10,395,000 on November 12, 2021. The transaction will include participation from Daiwa Securities Co., Ltd., Investment Arm through third-party allotment. Each stock acquisition right is exercisable into 100 common shares at an initial exercise price of the ordinary trading of the company's common stock on the Tokyo Stock Exchange, Inc. on November 11, 2021, or the closing price of the common trading of the company's common stock on the Tokyo Stock Exchange on the trading day immediately before the condition determination date, the amount will be the higher of the above. The stock acquisition rights are exercisable from the bank business day following the allotment date to December 4, 2023. The stock acquisition rights are subject to transfer restrictions. The transaction has been approved in the board of directors meeting of the company. The allotment date is from December 3, 2021 to December 9, 2021.
Good Speed Co Ltd is a Japan-based company principally involved in the sale of used cars and motorcycles, automobile sales, and related businesses. The Company provides used car sales, car purchasing, maintenance and body repair, insurance agency, rental car, and gas station services. The used car sales business operates MEGA specialty stores for used cars, domestic car specialty stores, and imported car specialty stores. The car acquisition business acquires cars through batch acquisition assessment sites operated by multiple companies. The maintenance and sheet metal business provides services such as the maintenance of sold cars and car inspections. Insurance agency business provides agency service of general insurance companies. The car rental business provides vehicle rental services.