LTE-X, Inc. announced that it expects to receive ¥185.5 million in funding from WirelessGate, Inc., Mobile Internet Capital Inc.
February 12, 2017
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LTE-X, Inc. announced a private placement of 92,748,000 common shares at a price of ¥2 per share for gross proceeds of ¥185,496,000 on February 13, 2017. The transaction will include participation from existing investors, WirelessGate and MIC Innovation IV Limited Liability Fund, a fund managed by Mobile Internet Capital Inc. Post the closing, the investors will continue to hold 51% and 49% stake in the company upon closing. The company will issue shares by third party allotment. The transaction has been approved by the board of directors of WirelessGate, Inc. The capital will increase from ¥32,248,000 to ¥124,996,000 upon closing. The settlement date is February 20, 2017.
WirelessGate Inc is a Japan-based Company mainly engaged in the wireless broadband services related business. The Company operates in three businesses. The wireless broadband business provides three services. Mobile Internet service provides Wireless Gate Wi-Fi + WiMAX2 + and Wireless Gate SIM. The public wireless LAN service provides a high-speed Internet connection service Wireless Gate Wi-Fi. The optional service provides services such as telephone remote service and smart answering machine. The wireless business domain business provides two services. The authentication platform service provides ID and password authentication platforms, which are the foundation platforms of the wireless broadband business. Other corporate service includes the provision of Internet of Things (IOT) services and Prepaid Sim Card (SIM) services utilizing LTE networks for corporations. The Company is also involved in the sale of IoT-related goods.
WIRELESSGATE, INC. 
