NAIGAI ELECTRONICS Co., Ltd. announced that it expects to receive ¥800 million in funding from Naigai Tec Corporation
NAIGAI ELECTRONICS Co., Ltd. announced a private placement of 16,000 common shares at a price of ¥50,000 per share for gross proceeds of ¥800,000,000 on December 15, 2017. The transaction will involve participation from existing investor Naigai Tec Corporation (JASDAQ:3374). Post the closing of the transaction, the investor will continue to retain its 100% stake in the company and the total number of shares issued by the company will increase to 18,400. The transaction is expected to close on December 22, 2017. The transaction has been approved by the board of directors of the company.