CAICA Inc. (JASDAQ:2315) announced a private placement of 100,000 2nd stock acquisition rights at a price of ¥378 each for gross proceeds of ¥37,800,000 on April 20, 2021. The transaction will include participation from Tokai Tokyo Financial Holdings, Inc. (TSE:8616). Each security can be converted into 10,000,000 shares at an exercise price of ¥390.

The stock acquisition rights can be exercised from May 7, 2021 to May 2, 2023. The company will issue securities using third party allotment method. Post conversion of warrants into common shares the transaction will have an issue expenses of ¥37,640,000 and net proceeds of ¥3,900,160,000.

The transaction is expected to close on May 6, 2021. The transaction has been approved by the board of directors of the company.