FDK Corporation (TSE:6955) announced a private placement of 65,000 no. 1 warrants at a price of JPY 860 per warrant for gross proceeds of JPY 55,900,000 on August 6, 2018. The company will receive the proceeds from SMBC Nikko Securities Inc., Investment Arm through third party allocation method. The transaction is expected to close on August 22, 2018. Warrants have an initial exercise price of JPY 187 and lower limit exercise price of JPY 94 and are convertible into 1,000 shares per warrant. The company will pay issue expenses of JPY 10,000,000 in the transaction. The transaction has been approved by the board of directors.