Sun Capital Management Corp. (JASDAQ:2134) announced at private placement of 9,434,000 common shares at a price of ¥53 per share for proceeds of ¥500,002,000 and 344,828 12th series stock acquisition rights at a price of ¥41 per stock acquisition right for proceeds of ¥14,137,948 on April 30, 2021. The stock acquisition rights are exercisable into 34,482,800 common shares at an initial price of ¥58 per share, minimum price is ¥29 per share. Post the transaction proceeds of ¥250,001,000 will go towards the capital of the company and proceeds of ¥250,001,000 will go towards the capital reserve of the company. The securities will be issued through third party allotment. The transaction will include participation from TK Corporation. The transaction has been approved by the shareholders of the company. The company expects to close the transaction on May 20, 2021.