CommSeed Corporation (NSE:3739) announced a private placement of 7,634 shares at ¥16,369 per share for gross proceeds of ¥124,960,946 on May 24, 2013. Returning investor, Cykan Company Ltd will purchase 4,276 shares and new investors, Ouendan Co., Ltd. will purchase 1,832 shares, Ozmiq, Inc. will purchase 916 shares, and Next Innovation, Inc. will purchase 610 shares in the transaction. The company will receive the net proceeds of ¥120,000,000.

The company will issue shares through third party allotment. The issuance date and settlement date for the transaction is June 28, 2013. Following the closing, the capital of the company will increase by ¥62,484,290.

The company will pay various issuance costs of ¥4,960,946 in the transaction including advisory expenses of ¥2,250,000, inspection fees of ¥1,200,000, securities registration report documentation of ¥800,000, and registration expenses of ¥600,000. The transaction was approved at the company's board of directors' meeting.