SHANON Inc. announced a private placement of 49 3rd unsecured convertible bond at a price of ¥10,603,800 for the gross proceeds of ¥519,586,200, 13,426 26th stock acquisition rights at a price of ¥258 for the gross proceeds of ¥3,463,908, 6,000 27th Stock Acquisition Rights at a price of ¥207 for the gross proceeds of ¥1,242,000 for the total gross proceeds of ¥524,292,108 on December 22, 2023. The bonds will be convertible into 1,342,600 shares at a conversion price of ¥387 per share, 26th stock acquisition rights will be exercisable into 1,342,600 shares at an exercise price of ¥387 and 27th Stock Acquisition Rights will be exercisable into shares at an exercise price of ¥430. The transaction will include participation from Whiz AIoT Evolution Fund L.P., a fund managed by, Whiz Partners Inc, individual investors participating for 27th Stock Acquisition Rights are Kenichiro Nakamura, Koichiro Nagashima, Joji Hori, and Manabu Tomokiyo.

The securities will be allotted through third party method of allotment.