Convano Inc. announced a private placement of 2,060,000 common shares at the price of ¥500 per share for gross proceeds of ¥1,030,000,000 on November 24, 2023. The transaction will include participation from returning investor Tsuyoshi Aoki increasing its stake from 47.13% to 72.28 %. The company will issue shares through third-party allotment method.

The transaction has been approved by board of directors of the company. The payment date for the transaction is February 8, 2024. The company will inccur issue expenses of ¥8,000,000 for attorney fees including securities registration statement preparation costs, ¥4,000,000 for registration costs, ¥800,000 for investigation costs.