A.D. Works Group Co., Ltd. announced that it expects to receive ¥12.48 million in funding from Milestone Capital Management Co., Ltd.
September 31, 2020
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A.D. Works Group Co., Ltd. (TSE:2982) announced a private placement of 96,000 second stock acquisition rights at a price of ¥130 per stock acquisition rights for the gross proceeds of ¥12,480,000 on September 1, 2020. The transaction will include participation from new investor Milestone Capital Management Co., Ltd. The transaction has been approved by board of directors of the company. The minimum exercise price is ¥115 and initial exercise price ¥148. The company will receive ¥1,420,800,000 on the exercise of second stock acquisition rights. The company will raise the funding through third-party allocation method. The exercise period of stock acquisition rights under the equity commitment line will be until September 17, 2022. The company will pay ¥2,200,000 for expenses related to the design and evaluation of stock acquisition rights, ¥1,200,000 for securities agent fees and ¥14,600,000 for other expenses including lawyer fees, registration fees, etc. The transaction is expected to close on September 18, 2020.
A.D.Works Group Co.,Ltd. is mainly engaged in the management of the business of group companies and other related operations as a holding company. Through a wholly owned subsidiary and its affiliated companies, the Company operates two businesses, including profitable real estate sales business and stock-type fee business. The profitable real estate sales business seeks out and raises properties with high profitability, and operates the business through the process of property selection, purchase, value increasing and sales, centering on residential real estate with less than 500 million yen per building. The stock-type fee business supports all aspects of the management of real estate properties, and provides property management, real estate effective utilization consulting and real estate appraisal due diligence.