Hiramatsu Inc. (TSE:2764) announced a private placement of 1st unsecured unguaranteed convertible bond for 64 bonds at a price of ¥40,816,000 per bond for gross proceeds of ¥1,999,984,000 on August 9, 2019. The bonds carry a coupon rate of 0.8% per annum. The bonds are converted into common shares at a price of ¥346 per share. The company will also issue warrants in the transaction. The transaction will include participation from new investor InfleXion No. II C Fund L.P. for 11.81% stake in the company. The transaction has received approval from board of directors of the company. The company will issue bonds through third party allotment. The transaction is expected to close on August 30, 2019. The bonds are 100% redeemable. The company will receive net proceeds of ¥1,986,984,000 and will pay an issue expenses of ¥13,000,000. The bonds will be converted into 5,780,300 shares of the company.