SHANON Inc. (TSE:3976) announced a private placement of 1,450 warrants for an aggregate gross proceeds of ¥519,049,600 on July 16, 2019. As a part of transaction the company will issue 700 18th warrants 700 at an issue price of ¥1,408 per warrant for gross proceeds of ¥985,600, 500 19th warrants at an issue price of ¥877 per warrant for gross proceeds of ¥438,500, 250 20th warrants at an issue price of ¥102 per warrant for gross proceeds of ¥25,500. The warrant exercise period for 18th, 19th, and 20th warrants is from August 2, 2019 to July 31, 2021. The transaction included participation from Macquarie Bank Limited by a third-party allotment. The 18th warrants are exercisable into 70,000 common shares at an exercise price of ¥1,680 and will receive proceeds of ¥117,600,000 post exercise, 19th warrants are exercisable into 50,000 common shares at an exercise price of ¥4,000 and will receive proceeds of ¥ 200,000,000 post exercise, 20th warrants are exercisable into 25,000 common shares at an exercise price of ¥8,000 and will receive proceeds of ¥ 200,000,000 post exercise. The lower limit for the exercise price of 18th, 19th, and 20th warrants is ¥1,406. The company will have issuance expenses of ¥1,590,000 and net proceeds of ¥517,459,600. The transaction has been approved by the board of directors of the company. The warrants will be issued through third party allotment method.

On July 18, 2019, the company announced that 18th warrants are exercisable into 70,000 common shares at an exercise price of ¥1,694.08 and will receive proceeds of ¥118,585,600 post exercise, 19th warrants are exercisable into 50,000 common shares at an exercise price of ¥4,008.77 and will receive proceeds of ¥ 200,438,500 post exercise, 20th warrants are exercisable into 25,000 common shares at an exercise price of ¥8,001.02 and will receive proceeds of ¥ 200,025,500 post exercise.