TB Group Inc. announced a private placement to issue 2,127,600 common shares at an issue price of ¥141 per share for gross proceeds of ¥299,991,600 and 13,513 units of stock acquisition rights at issue price of ¥204 per stock acquisition right for gross proceeds of ¥2,756,652; for aggregate gross proceeds of ¥302,748,252 on January 6, 2023. The transaction will include participation from returning investors, HospitalNet Inc. for 709,200 shares and Progressive Intelligence Fund, L.P. for 1,418,400 shares and Progressive Intelligence No. 2 Fund, a fund managed by Modern Path LLC for 13,513 units.

The transaction has been approved by the board of directors of the company. The shares will be issued through third party allocation. The payment date of the transaction is January 23, 2023.

The stock acquisition rights are convertible into 1,351,300 common shares of the company at an initial exercise price of ¥148 per share. The company will issue stock acquisition rights through third-party allotment. The company will pay expenses of ¥900,000 for registration of capital increase and registration fee, ¥1,000,000 for stock acquisition rights calculation expenses, ¥1,000,000 or support expenses for preparing securities registration statements, ¥2,300,000 attorney fees and ¥500,000 in investigation fees.