Kudan Inc. announced a private placement of 16,000 17th stock acquisition rights at a price of ¥227 per warrant for the gross proceeds of ¥3,632,000 on December 18, 2023. The transaction will include participation from returning investor, Growth Capital, Inc. The warrants will be exercisable at an exercise price of ¥1,183. The transaction has been approved by the shareholders of the company and is expected to close on January 10, 2024.

The warrants will be allotted through third-party allotment method.