Itoki Corporation announced that it expects to receive ¥45.280858 million in funding from Inflexion Partners, Flagship Asset Management, Inc.
June 28, 2020
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Itoki Corporation (TSE:7972) announced a private placement of 113,771 stock acquisition rights at a price of ¥398 per right for gross proceeds of ¥45,280,858 on June 29, 2020. The transaction will include participation from new investors Inflexion II Fund L.P. for 70,072 rights, Inflexion II Cayman, L.P., a fund managed by Inflexion Partners for 25,689 rights and Flagship Asset Management Investment Partnership No. 87, a fund managed by Flagship Asset Management, Inc. for 18,010 rights. The allotment date for rights is July 15, 2020 and payment date is July 22, 2020. Each stock acquisition right is exercisable into 100 shares at a minimum exercise price of ¥361 or at an initial exercise price of ¥400. The rights are being issued through a third party allocation method. The company will incur expenses of ¥15,000,000 in the transaction. The transaction has been approved by board of directors of the company.
ITOKI CORPORATION is a Japan-based company mainly engaged in the manufacture and sale of office furniture. The Company operates in two business segments. The Office Related segment is engaged in the manufacture and sale of workstations, tables, desk accessories and other office desks, office chairs, meeting chairs, system storage furniture, lockers and other storage furniture. It also provides project management (PM) services, including the repair, assembly and construction of offices, maintenance services and relocation services, as well as the maintenance, rental and recycling of office furniture. The Equipment segment is engaged in the manufacture and sale of storage shelves, office security equipment, building partitions, logistics equipment, commercial equipment, research equipment, powder equipment and others, as well as the provision of building materials and interior works. The Company is also engaged in the provision of household furniture, and the development of software.
ITOKI CORPORATION 
