CommSeed Corporation (NSE:3739) announced a private placement of 2,000,000 4th series of unsecured convertible bonds at a price of ¥100 per bond for gross proceeds of ¥200,000,000 on May 14, 2020. The company will also issue 40 free stock acquisition rights in the transaction. The bond are convertible into 452,488 common shares at a conversion price of ¥442 per share. The transaction will include participation from new investor Takeo Ureshino Country Club Co., Ltd. through third-party allotment. The company will receive net proceeds of ¥197,280,000 in the transaction. The company will pay various issuance costs of ¥1,500,000, registration-related expenses of ¥200,000 and other expenses such as stock administration fees and external investigation costs of ¥1,020,000. The transaction has been approved by the board of directors of the company. The transaction is expected to close on June 5, 2020.