Escrit Inc. (TSE:2196) announced a private placement of 3,000 class A shares at an issue price of ¥1,000,000 per share for gross proceeds of ¥3,000,000,000 om February 15, 2021. The transaction will involve participation from Sumitomo Mitsui Finance and Leasing Company, Limited. The company will issue shares through third party allotment method. The transaction has been approved by the board of directors of the company. The investor will hold 100% stake in the company, post the closing. The company will have its extraordinary general meeting of shareholders scheduled to be held on March 25, 2021. The payment date is March 31, 2021.