iRidge, Inc. announced a private placement to issue 358,400 common shares of the company at an issue price of ¥530 per share for the gross proceeds of ¥189,952,000 on April 12, 2024. The transaction will include participation from new investor, DIP Corporation. The transaction is expected to close on April 30, 2024.

The company will issue shares through third-party allotment. The approximate amount of issuance expense will be ¥3,500,000 and the net proceeds will be ¥186,452,000. The transaction has been approved by the board of directors of the company.