House Do Co.,Ltd. (TSE:3457) announced a private placement of 300 type A convertible preferred stock at a price of ¥10,000,000 per share for gross proceeds of ¥3,000,000,000 on August 14, 2017. The transaction includes participation from UDS Corporate Mezzanine No. 4 Limited Partnership, a fund managed by DBJ Corporate Mezzanine Partners. Type A preferred stock have a conversion price of ¥1,681.5. The company incurred issue expenses of ¥10,500,000 as registration and license taxes, ¥30,000,000 as arrangement fee, ¥3,300,000 as underwriting commission to the recipient, expenses related to the appraisal of the preferred share, and ¥3,000,000 as lawyer fees. The expected payment date of the transaction is October 17, 2017.