Watami Co., Ltd. (TSE:7522) announced a private placement of 120 Class A Preferred Shares at a price of ¥100,000,000 per share for gross proceeds of ¥12,000,000,000 on May 24, 2021. The transaction will include participation from new investor DBJ Food and Beverage Support Fund L.P. through third-party allotment. The transaction has been approved in the board of directors meeting and is subject to approval in the Ordinary General Meeting of Shareholders to be held on June 27, 2021. The company will receive net proceeds of ¥11,898,000,000 in the transaction. The payment date is on June 28, 2021.