Fracta, Inc. announced that it expects to receive funding from Kurita Water Industries Ltd.
Fracta, Inc. announced that it will receive an equity round of funding on May 30, 2018. The company has entered into an agreement with new investor Kurita Water Industries Ltd. (TSE:6370). Kurita Water Industries Ltd. (TSE:6370) will subscribe for outstanding and new shares for proceeds of $37 million. Post the closing, the investor will acquire 50.1% stake in the transaction. The transaction has been approved by the board of directors of the investor. The transaction is expected to close by May 31, 2018.