NCXX Group Inc. announced that it expects to receive ¥200 million in funding from Jitsugyo no Nihon Sha, Ltd.
April 12, 2018
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NCXX Group Inc. (JASDAQ:6634) announced a private placement of 20 series 7 unsecured convertible bonds with warrants at a price of ¥10,000,000 per bond for gross proceeds of ¥200,000,000 on April 13, 2018. The transaction will involve participation from Jitsugyo no Nihon Sha, Ltd. The bonds will be issued at par. The bonds will carry a coupon of 0.7% per annum. The bonds and warrants will be potentially convertible into 487,800 shares at a fixed conversion price of ¥410 per share. The securities will be issued by a way of third party allocation. The bonds are redeemable at par. The exercise period for the warrants will start on May 1, 2018 and end of April 30, 2022. The transaction is expected to close on May 1, 2018. The company will pay ¥4,000,000 in issue expenses, which includes ¥1,000,000 lawyer fees, ¥1,250,000 for expenses on securities appraisal by a third-party appraiser, ¥300,000 for expenses on investigation by a third-party research organization, ¥1,350,000 for printing company expenses, and ¥100,000 for registration-related expenses, and other expenses.
NCXX Group Inc is a Japan-based company engaged in Internet of Things (IoT) business, Internet travel business, brand retail platform business, virtual currency block chain business and other business. The Company operates through five business segments. The Brand Retail Platform segment is engaged in retail of general merchandise and clothing, restaurant business, and others. The Internet Travel segment is engaged in the provision of e-marketplace operation for travel-related products, travel agency service and others. The IoT segment is engaged in the development and sales of communication devices using wireless system, the provision of system solution and maintenance service and others. The Virtual Currency Block Chain segment is engaged in the investment in cryptocurrencies, the development and operation of derivative products and others. The Others segment is engaged in the provision of consulting services in financial strategy, business strategy and recruitment support area.