CommSeed Corporation (NSE:3739) announced a private placement of 1,185,700 shares at an issue price of ¥253 per share for gross proceeds of ¥299,982,100 on January 12, 2021. The transaction will include participation from returning investors Takeo Ureshino Country Club Co., Ltd. for 395,200 shares and its stake will increase from 3.79% to 6.46%, Cykan Holdings Co., Ltd. for 790,500 shares and its stake will increase from 50.9% to 52.33%. The transaction has been approved by the board of directors of the company. As a part of transaction, the company will have issue expenses of ¥1,700,000 and will receive net proceeds of ¥298,282,100. The company will issue shares using third party allocation method. The payment date of the transaction is January 29, 2021.