GMO TECH, Inc. announced that a private placement of 55 Class A common shares at issue price of ¥10,000,000 per share for gross proceeds of ¥550,000,000 on August 4, 2022. The transaction will take place through third party allotment to GMO internet group, Inc. for 45 shares and Akito Suzuk for 10 shares. The expected payment date for transaction is September 30, 2022.

The transaction was approved by the company and subjected to approval of Extraordinary General Meeting of Shareholders scheduled to be held on September 29, 2022.