MEDINET Co., Ltd. announced that it expects to receive ¥24.13 million in funding from Macquarie Bank Limited, Investment Arm
August 20, 2020
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MEDINET Co., Ltd. (TSE:2370) announced a private placement of 190,000 units 17th stock acquisition rights at a price of ¥127 per share for the gross proceeds of ¥24,130,000 with returning investor Macquarie Bank Limited, Investment Arm on August 21, 2020. The 17th stock acquisition rights will be converted into 19,000,000 shares at a price of ¥100 per stock acquisition right. The minimum exercise price of stock acquisition rights is ¥54 and the initial exercise price ¥101.12. The exercise period is from September 8, 2020 to September 7, 2022. The transaction has been approved by board of directors of the company. The transaction is expected to close on September 7, 2020.
MEDINET Co., Ltd. is a Japan-based company mainly engaged in cell processing industry and cellular medical products business. It operates through two business segments. The Cell Processing Industry segment mainly engages in comprehensive support services for immune cell therapy, related services including clinical use from companies, universities, research institutes, outsourcing of cell processing for clinical trials and operation of cell culture processing facilities. The Cellular Medical Products segment is mainly engaged in research and development for obtaining approval for manufacture and marketing of cellular medical products. It also provides comprehensive support services for immune cell therapy.