Marumitsu Co. Ltd. (JASDAQ:8256) announced a private placement of 40,000 first round warrants at ¥60 per warrant for gross proceeds of ¥2,400,000 on January 7, 2014. The company will issue the warrants to SMBC Nikko Securities Inc., Investment Arm. The transaction was approved by the board of directors on the same date. The warrants will be exercisable into 4,000,000 shares of the company at a minimum exercise price of ¥66 per share. The exercise period of the warrants will be from January 27, 2014 to January 31, 2016. The transaction is expected to close on January 24, 2014. The exercise price of the warrants is ¥145 per share. The transaction is by way of third party allotment. TMI Associates acted as legal counsel to the company for the transaction.

On January 24, 2014, Marumitsu Co., Ltd. closed the transaction.