ODK Solutions Company, Ltd. (JASDAQ:3839) announced a private placement of 300,000 shares at a price of ¥317 per share for gross proceeds of ¥95,100,000 on August 5, 2016. The transaction will include participation from new investor, FALCO Holdings Co., Ltd. (TSE:4671). The transaction has been approved by the board of directors of the company.

The transaction is expected to close on August 23, 2016. The shares will be issued through third party allotment. The company will pay expenses of ¥500,000 in the transaction.

The company will receive net proceeds of ¥94,600,000 in the transaction. The investor will acquire 3.94% stake in the company.