Ishigaki Foods Co.,Ltd. (JASDAQ:2901) announced a private placement of 312,000 common shares at the price of ¥160 per share for gross proceeds of ¥49,920,000 and 11,290 warrants at the price of 112 per warrants for gross proceeds of ¥1,264,480 and for total proceeds of ¥51,184,480 on May 27, 2019. The transaction included participation from existing investor Samurai&J Partners Co.,Ltd. (JASDAQ:4764) which will increase stake to 10.31%. The total outstanding shares of the company is The company will issue security through third party allotment.

One warrants will be converted into 100 shares per warrant. The transaction has been approved by the board of directors of the company. The estimated amount of issue cost including exercise of warrants is ¥19,000,000.

The application and payment date is July 1, 2019.