Giga Solar Materials Corp. (GTSM:3691) announced a private placement of 2,686,000 common shares for gross proceeds of TWD 249,959,000 on June 14, 2019. The transaction will involve participation from Sincere Holding Company. The issue price will be no less than 80% of the higher of the following two reference prices; the simple average closing price of the common shares of the company for either the one, three, or five business days before the price determination date, after adjustment for any distribution of stock dividends, cash dividends or capital reduction, and the simple average closing price of the common shares of the company for the 30 business days before the price determination date, after adjustment for any distribution of stock dividends, cash dividends, or capital reduction. The transaction has been approved by the board of directors of the company.