Pixela Corporation announced that it will issue 40 4th unsecured convertible bond-type bonds with stock acquisition rights at a price of ¥6,250,000 for gross proceeds of ¥250,000,000 and 806,451 15th stock acquisition rights at a price of ¥0.8 for gross proceeds of ¥645,161 for aggregate gross proceeds of ¥750,644,591 on October 14, 2022. The transaction will include participation from returning investor, Evo Fund, a fund managed by Evolution Capital Management, LLC. The company is issuing securities through third party allotment.

The bonds bear an interest of 0% and are redeemable on October 31, 2024. The 15th stock acquisition rights are convertible into 80,645,100 shares at an initial exercise price of ¥9.3 per share. The transaction is expected to close on October 31, 2022.