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.