Bit One Group Co., Ltd. (TSE:2338) announced a private placement of 11,289 units of 11th stock acquisition rights at issue price of ¥868 per stock acquisition right for gross proceeds of ¥9,798,852 and 30 units of 3rd unsecured convertible bond type bonds with stock acquisition rights at issue price of ¥10,000,000 per piece for gross proceeds of ¥300,000,000; for an aggregate gross proceeds of ¥309,798,852 on October 26, 2020. The transaction will include participation from Cheung Yuk Shan Shirley for 9,838 units of 11th stock acquisition rights and 21 bonds for gross proceeds of ¥210,000,000 and Zhou DiSun for 1,451 units of 11th stock acquisition rights and 9 bonds for gross proceeds of ¥90,000,000. The company will issue 1,128,900 shares on exercise of 11th stock acquisition rights at an exercise price of ¥620 per share and 483,870 shares on conversion of bond at a conversion price of ¥620 per share. The exercise price for stock acquisition rights is from November 11, 2020 to November 10, 2023. The bonds carry no rate of interest and will redeem on November 10, 2023. The transaction is expected to close on November 11, 2020. The company incurred expenses of ¥31,800,000 in relation to the transaction. The company will raise funds through third party allotment. The transaction has been approved by the board of directors of the company.