inspec Inc. (TSE:6656) announced a private placement of 650,000 8th series warrants at a price of ¥4 per warrant for gross proceeds of ¥2,600,000 on March 10, 2017. The transaction will include participation from investor, Evo Feeder Fund. The warrants are issued through third party allotment method. The transaction was approved by the board of directors of the company. The warrants are exercisable at a price of ¥1,314 between the period of March 28, 2017 to August 22, 2017 for investment amount of ¥854,100,000. Upon the exercise of warrants the company will incur issue cost of ¥8,000,000 including recording expenses of ¥3,200,000, transfer agent fees of ¥1,800,000, value calculation and inspection expenses of ¥1,700,000, and legal expenses and notice creation expenses of ¥1,700,000.