Hachi-Ban Co., Ltd. announced that it has received ¥767.58 million in funding from Ringer Hut Co. Ltd.
February 27, 2014 at 11:00 pm EST
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Hachi-Ban Co., Ltd. (JASDAQ:9950) announced a private placement of 1,526,000 treasury shares at ¥503 per share for gross proceeds of ¥767,578,000 with new investor, Ringer Hut Co., Ltd. on February 10, 2014. After the transaction, the investor will acquire 9.63% of voting rights and 9.51% of stake. The company will raise net proceeds of ¥766,378,000, after deducting estimated various expenses for the issuance of ¥1,200,000, which includes creation of the Securities Registration Statement and other documents and advisory fees and excludes consumption tax. The transaction will happen through third party allocation. The disposal date for the transaction will be February 28, 2014. The transaction has been resolved by board of directors of the investor and the company.
On February 28, 2014, Hachi-Ban Co., Ltd. closed the transaction.
HACHI-BAN CO., LTD. is a Japan-based company mainly engaged in the restaurant business. The Company operates in three business segments. The Restaurant segment manufactures raw Chinese noodles, ramen sauce and frozen dumplings, manages the Hachi-ban Ramen franchise chain headquarters, and operates ramen shops and Japanese restaurants. The External Sales segment sells Chinese raw noodle products and raw frozen dumplings. The Overseas segment conducts the import and export and sales of food based on restaurant franchise chain area licensing agreements outside Japan.
HACHI-BAN CO., LTD. 
