Sun Frontier Fudousan Co., Ltd. announced a private placement to issue 1st Series Unsecured Convertible Bonds with 49 Share Acquisition Rights at an issue price of ¥204,488,160 of each bond with the face value of each bond is ¥204,080,000 for the aggregate gross proceeds of ¥10,019,919,840 on September 20, 2023. The exercise price or conversion price of the share is ¥1,554 per share. The issuance will be held through third-party allotment.

The transaction will include participation from new investor, AAGS S5, L.P. The transaction is expected to close on October 6, 2023. The transaction has been approved by the Board of Directors of the company. The company has disclosed the issue expenses of ¥20,601,640 in the transaction.