Adways Inc. announced that it has received ¥29.29 million in funding from Merrill Lynch Japan Securities Co., Ltd., Investment Arm.
October 18, 2013 at 12:00 am EDT
Share
Adways Inc. (TSE:2489) announced a private placement of 38,540 9th round warrants at ¥760 per warrant for gross proceeds of ¥29,290,400 on October 1, 2013. The company will issue the warrants to Merrill Lynch Japan Securities Co., Ltd., Investment Arm. The application period of the warrants will culminate on September 16, 2014. The payment date and the allocation date for the transaction is expected to be October 18, 2013. The exercise period of the warrants will be from October 21, 2013 to October 20, 2015. Each warrant will be exercisable at an initial exercise price of ¥790 per share. The company will issue the warrants via third party allocation. The transaction was approved by the board of directors on the same date. Each warrant will be convertible into 100 shares of the company. As part of the transaction, the warrants will be convertible into 3,854,000 shares. The company will incur ¥10,000,000 as issuance expenses in the transaction. The company will receive estimeted net amount of ¥3,063,950,400 on exercise of warrants.
On October 18, 2013, Adways Inc. closed the transaction.
Adways Inc. is primarily engaged in providing Internet advertising service. The Advertising segment is engaged in connecting advertisers of Website operators, content providers and smart-phone app developers, to advertising media of Websites, game apps and other media, through the Companyâs advertising system. The Apps and Media segment is engaged in developing and operating smart-phone apps and other media. The Overseas segment is engaged in providing support service of Internet marketing for local and foreign companies overseas mainly in China, and also in providing smart-phone app advertising service.
ADWAYS INC. 
