Ambition Corporation (TSE:3300) announced a private placement of 5,000 stock acquisition right at a price of ¥273 per acquisition right for the gross proceeds of ¥1,365,000 on September 1, 2020. The transaction will include participation from Macquarie Group Limited (ASX:MQG) through third party allotment. Each stock acquisition right can be exercise in to 100 common shares of the company.

The minimum exercise price for common share is ¥757. The exercise period of the stock acquisition rights is three years from September 18, 2020 to September 15, 2023. The company will acquire 7.35% stakes of the company, post exercise of all common shares.

The transaction is expected to close on September 17, 2020. The transaction has been approved by board of directors of the company.