J Frontier Co.,Ltd. announced that it expects to receive Ã10.417146 million in funding from UBS AG, London Branch, Asset Management Arm
October 13, 2022
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J Frontier Co.,Ltd. announced a private placement of 4th, 5th and 6th stock acquisition rights for aggregate gross proceeds of Ã10,417,146, on October 14, 2022. The transaction will include participation from UBS AG, London Branch, Asset Management Arm. The company will issue 4,167 4th stock acquisition rights at an issue price of Ã2,288 per right for gross proceeds of Ã9,534,096, 1,389 5th stock acquisition rights at an issue price of Ã550 per right for gross proceeds of Ã763,950 and 1,191 6th stock acquisition rights at an issue price of Ã100 per right for gross proceeds of Ã119,100. The stock acquisition rights will be issued through third party allotment.
The stock acquisition rights can be exercised from trading day after allocation date to November 7, 2025. The 4th stock acquisition rights can be exercised into 416,700 shares at an exercise price of Ã2,400, 5th stock acquisition rights can be exercised into 138,900 shares at an exercise price of Ã3,600 and 6th stock acquisition rights can be exercised into 119,100 shares at an exercise price of Ã4,200 for an approximate net proceeds of Ã2,002,757,146.
The expected date of payment is November 7, 2022 or November 9, 2022, which will be the 16th day counting from the day after the condition determination date, that is, between, October 20, 2022 and October 24, 2022. The transaction has been approved by board of directors of the company.
J Frontier Co Ltd is a Japan-based company mainly engaged in the electronic commerce sale business for healthcare-related products and pharmaceuticals, the provision of online medication guidance, drug delivery platform SOKUYAKU, as well as the Internet advertising agency business for healthcare-related services. The Company operates through three business segments. The Healthcare Sales segment is engaged in the planning and development of health foods and cosmetics represented by the 328 selection series of fermented hydrogen and mail-order sales. The Medical Care Sales segment is engaged in the operation of dispensing pharmacies, mail-order business of ethical drugs, as well as planning, development and mail-order sales of drugs such as Why Pure series and Chinese herbs. The Health Care Marketing segment is mainly engaged in advertising agency business related to health care products, sales promotion support for health care products, as well as wholesale of in-house products.