Aqualine Ltd. announced that it will issue 737,800 common shares at an issue price of ¥454 per share for gross proceeds of ¥334,961,200 on October 24, 2023. The transaction is expected to close on November 9, 2023. The transaction include participation from Kushim Insight, Inc. for 704,800 shares for 18.9% stake and E-Smile Co., Ltd. for 33,000 shares through of third-party allocation method.

The company will pay ¥5,000,000 as issuance costs. The transaction was approved by the board of directors of the company.