FUJITA CORPORATION Co.,Ltd. (JASDAQ:3370) announced that it has entered into a stock acquisition right purchase agreement for a private placement of 280,000 series 4 stock acquisition rights at a price of ¥1.16 per warrant for gross proceeds of ¥324,800 and series 5 stock acquisition rights at a price of ¥1.10 per warrant for gross proceeds of ¥ 220,000 and total gross proceeds of ¥544,800 on November 27, 2020. The warrants to be issued are exercisable into 480,000 common shares at an exercise price equivalent to 50% of closing price of the common shares for ¥182,604,800. There is no maximum strike price.

The transaction will include participation from Kozosushi Co., LTD. (JASDAQ:9973) for 67,000 units of series 5 stock acquisition rights, returning investors Evo Fund, a fund managed by Evolution Capital Management, LLC for 280,000 units of series 4 stock acquisition rights, and JFLA Holdings Inc. (JASDAQ:3069) for 133,000 units of the series 5 stock acquisition rights. The company will issue securities through third party allotment. The company expects to close the transaction on December 24, 2020.