Pepper Food Service Co., Ltd. announced that it expects to receive ¥79.47903 million in funding from Inflexion Partners, Flagship Asset Management, Inc.
July 30, 2020
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Pepper Food Service Co., Ltd. (TSE:3053) announced a private placement of 160,982 11th stock acquisition rights at an issue price of ¥369 per stock acquisition right for gross proceeds of ¥59,402,358 and 68,992 12th stock acquisition rights at a price of ¥291 per stock acquisition right for gross proceeds of ¥20,076,672; aggregate gross proceeds of ¥79,479,030 on July 31, 2020. Each 11th stock acquisition right is exercisable into 100 common shares at a initial exercise price of ¥42,569 and will receive proceeds of ¥6,852,842,758 post exercise. Each 12th stock acquisition right is exercisable into 100 common shares at a initial exercise price of ¥42,491 and will receive proceeds of ¥2,931,539,072 post exercise. The stock acquisition rights are issued through a third party allotment method. The exercise period of 11th stock acquisition rights is from August 17, 2020 to August 17, 2022 and The exercise period of 12th stock acquisition rights is from February 17, 2021 to August 17, 2025. The transaction will include participation from InfleXion No. II Fund L.P and Inflexion II Cayman, L.P., a fund managed by Inflexion Partners for 14,164,100 shares and 5,192,900 shares and Flagship Asset Management Investment Union No. 88, a fund managed by Flagship Asset Management, Inc. for 3,640,400 shares, post conversion of acquisitions rights. The transaction has been approved by the board of directors and is expected to close on August 17, 2020. The company will pay ¥14,000,000 as an issuance cost in the transaction.
Pepper Food Service Co Ltd is a Japan-based company mainly engaged in the operation of restaurants. The Company operates through four business segments. The Ikinari! Steak Business segment is engaged in the operation of charcoal-grilled steak restaurant Ikinari! Steak, operated directly by the group, a franchise, or a consignment business. The Pepper Lunch Business segment has three businesses: franchise business, direct management business and consignment business. It operates stores such as Pepper Lunch, Pepper Lunch Diner, 92's and food court type Charcoal-grilled Hamburg Steak Kuni, Tokyo 634 Burg, Musashi Hamburg. The Restaurant Business segment operates custom-cut steak restaurants, tonkatsu stores, beef tongue restaurants and others as a direct management, franchise and consignment business of the group. The Product Sales Business segment sells ingredients such as tonkatsu sauce, frozen pepper rice, dressing, and lux ham, as well as chopsticks.
Pepper Food Service Co., Ltd. announced that it expects to receive ¥79.47903 million in funding from Inflexion Partners, Flagship Asset Management, Inc.
PEPPER FOOD SERVICE CO., LTD. 
