MedPeer,Inc. (TSE:6095) announced that it signed a capital and business alliance for private placement of 275,600 common shares at ¥1,277 per share for gross proceeds of ¥351,941,200 on March 5, 2018. The transaction will include participation from new investor Sugi Holdings Co. Ltd. (TSE:7649) to acquire 3% stake in the company.

The company will issue securities through third party allotment method. The payment date is April 2, 2018. The company will pay expenses of ¥3,000,000 in the transaction.

The company will receive net proceeds of ¥348,941,200 in the transaction. The transaction has been approved by the board of directors of the company.