Innovation Inc. announced that it will issue 2,907 of 7th stock acquisition right at a price of ¥2,000 per stock acquisition right for proceeds of ¥5,814,000, 2,340 of 8th stock acquisition right at a price of ¥1,000 for gross proceeds of ¥2,340,000, 727 of 9th stock acquisition right at a price of ¥300 per stock acquisition right for proceeds of ¥218,100 for total gross proceeds of ¥8,372,100 on March 22, 2022. The transaction will include participation from Naoto Tomida. The stock purchase rights will be issued through third party allotment.

Each stock acquisition right is convertible into 100 shares of common stock for three years starting from August 3, 2020 to expiry date August 31, 2023. The initial exercise price is ¥2,323 for the 7th stock acquisition rights, ¥2,757 for the 8th stock acquisition rights, and ¥3,192 for the 9th stock acquisition rights. The transaction will be expected to complete on April 7, 2022.

The estimated amount of expense will be ¥7,440,000 in the transaction. The transaction has been approved by the board of directors of the company.