Nihon Seimitsu Co., Ltd. (JASDAQ:7771) announced a private placement of 2,525,300 common shares to be issued at a price of ¥79.2 per share for gross proceeds of ¥200,003,760 on June 2, 2020. The transaction will include participation from new investor Curo Co.,Ltd. (KOSE:A015590). The transaction is expected to close on June 19, 2020.

As part of the transaction, the investor will acquire 11.46% stake in the company. The company will shares through third party allotment in the transaction. The company will incur issuance expenses of ¥2,000,000, which includes ¥500,000 for lawyer expenses; ¥1,000,000 for registration expenses; and ¥500,000 as other expenses, in the transaction.