VIA Holdings,Inc. (TSE:7918) announced a private placement of 1,500 convertible class C preferred shares at a price of ¥1,000,000 per share for gross proceeds of ¥1,500,000,000, 4,500 convertible class D preferred shares at a price of ¥1,000,000 per share for gross proceeds of ¥4,500,000,000, and 50,000 25th stock acquisition rights at a price of ¥60 per stock acquisition right for gross proceeds of ¥3,000,000, for aggregate gross proceeds of ¥6,003,000,000 on March 26, 2021. The series C preferred shares will include participation from RKD Encourage Fund, a fund co-managed by Resona Capital Co., Ltd. and DBJ Regional Investment Co., Ltd., series D preferred shares will include participation from new investors Resona Bank, Limited, Investment arm for 2,674 shares, Mizuho Bank, Ltd., Investment Arm for 777 shares, Sumitomo Mitsui Banking Corp., Investment Arm for 249 shares, MUFG Bank, Ltd., Investment Arm for 238 shares, and Yokohama Capital Co. Ltd. for 562 shares, and 25th stock acquisition rights will include participation from Barclays PLC (LSE:BARC).

The series C and series D preferred shares are convertible into common shares of the company at an initial conversion price of ¥206 per share. Each stock acquisition right is exercisable into 100 common shares of the company at an initial exercise price is ¥206 per share, resulting in proceeds of ¥1,030,000,000 post full exercise. Post closing, Resona Bank, Limited, Investment arm, Mizuho Bank, Ltd., Investment Arm, Yokohama Capital Co.

Ltd., Sumitomo Mitsui Banking Corp., Investment Arm, and MUFG Bank, Ltd., Investment Arm will hold 59.4%, 17.3%, 12.5%, 5.5%, and 5.3% of the total class D preference shares, respectively. The company will issue securities through third party allotment method. The transaction has been approved by the board of directors of the company and is expected to close on May 20, 2021 for stock acquisition rights.

For preferred shares closing will happen from May 20, 2021 to June 18, 2021.