Ishigaki Foods Co.,Ltd. announced a private placement of 33,663 1st series warrants at a price of ¥235 per warrant for gross proceeds ¥7,910,805 on September 11, 2017. The warrants have an exercise price of ¥260 and are exercisable between the period of September 28, 2017 to September 27, 2019. The warrants will be issued to Advantage Advisors, Inc through third party allotment method. The total amount to be raised from the exercise of warrant is ¥875,238,000. The transaction has been approved by board of directors of the company. Upon the exercisability of warrants the company will incur issue expenses of ¥10,200,000 for registration and license tax, judicial scrivener expenses and attorney fees, ¥2,000,000 for expenses on the fair value calculation of the warrants and ¥800,000 for expenses on investigation concerning antisocial forces, for a total of about ¥13,000,000.