FreakOut Holdings, inc. (TSE:6094) announced a private placement of 30 series 2nd unsecured convertible bond-type bonds with stock acquisition rights at a par price of ¥51,000,000 per bond for gross proceeds of ¥1,530,000,000, 30 series 3rd unsecured convertible bond-type bonds with stock acquisition rights at a par price of ¥50,000,000 per bond for gross proceeds of ¥1,500,000,000 and 9,714 series 10th stock acquisition rights at a price of ¥3,118,194 per right for gross proceeds of ¥1,090,114,794; for aggregate gross proceeds of ¥4,120,114,794 on June 19, 2020. The bonds are of zero coupon. The stock acquisition rights and bonds are convertible into common shares of the company. The series 2nd and series 3rd are convertible at an initial exercise price of ¥1,342 and ¥1,566 respectively or at a minimum exercise price of ¥951 and ¥1,119 respectively. The 10th stock acquisition rights are exercisable at an initial exercise price of ¥1,119 per share or minimum exercise price of ¥784 per share. The transaction will take place through third party allotment. The bonds are redeemable on July 6, 2023. The transaction will include participation from SBI Securities Co., Ltd., Investment Arm. The transaction is expected to close on July 6, 2020. The company will incur issue expenses of ¥99,000,000 in the transaction.