Hokuto Corporation announced a private placement to issue Series 2 unsecured convertible bonds with stock acquisition rights for the gross proceeds of ¥10,019,919,840 on March 19, 2024. The bonds will be issued through third-party allotment. The bonds will be convertible into 5,208,291 shares at a conversion price of ¥1,920 per share.

The transaction will include participation from new investor, AAGS S9,L.P. The transaction is expected to close on April 5, 2024. The net proceeds will be ¥10,000,269,840 after the estimated issuance expenses of ¥19,650,000.