Hosoda Corporation (JASDAQ:1906) announced a private placement of 2,800,000 common shares at a price of ¥129.29 per share for gross proceeds of ¥362,012,000 on July 29, 2016. The transaction will include participation from new investor Hakuto Co., Ltd. (TSE:7433). Pursuant to the transaction, the investor will acquire a stake of 14.94% in the company.

The securities will be issued by way of third party capital increase. The settlement date of the transaction is September 30, 2016. The company will incur legal expenses of ¥2,000,000, advisory expenses of ¥35,000,000, and registration tax of ¥2,500,000.

The transaction has been approved by the board of directors of the company.