TB Group Inc. announced that it expects to receive ¥205.528683 million in funding from Progressive Intelligence Fund, L.P.
September 17, 2019
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TB Group Inc. (TSE:6775) announced a private placement of 40 units at an issue price of ¥5,000,000 each for gross proceeds of ¥200,000,000 and 11,941 series 1 warrants at an issue price of ¥463 each for gross proceeds of ¥5,528,683 for aggregate gross proceeds of ¥205,528,683.00 on September 18, 2019. Each unit will consists of one series 2 unsecured convertible bonds and one warrant. The transaction will include participation from Progressive Intelligence Fund, L.P. All series 2 unsecured convertible bonds is convertible into 643,086 common shares at the conversion price of ¥311. Each series 1 warrant is exercisable into 100 common shares at a price of ¥335 and will receive proceeds of ¥405,552,183. All securities in this transaction are issued through a third party allotment method. The transaction has been approved by the board of directors. The transaction is expected to closed on October 4, 2019.
TB GROUP INC. is a Japan-based company primarily engaged in the development, manufacture and sale of light emitting diode (LED) and ecology (ECO) related products, and store automation (SA) equipment. The Company operates in two business segments. The LED & ECO segment is engaged in the planning and sale of digital signages, LED displays, LED illuminations and ECO-related products. The SA Equipment segment is engaged in the planning, manufacture and sale of order entry systems (OES), point-of-sale (POS) systems, electronic cash registers and peripherals, drive recorders, capsule-type accommodation products and mobile phones, as well as the provision of paid broadcasting services. The Company is also engaged in the leasing of buildings.
TB GROUP INC. 
