Medley, Inc. announced that it expects to receive ¥5.13205 billion in funding from NTT DOCOMO, INC.

Medley,Inc. announced a private placement of 933,100 common shares at a issue price of ¥5,500 for gross proceeds of ¥5,132,050,000 on April 26, 2021. The transaction includes participation from new investor NTT DOCOMO, INC. The shares will be issued through a 3rd party allotment method. The investor will hold 2.93 % post transaction.

The transaction is expected to close on May 11, 2021. The company paid issue expenses of ¥49 million in the transaction. The transaction was approved by the board of directors and the company entered in to agreement with the investors as, part of the transaction.