Sakai Chemical Industry Co., Ltd. announced a private placement to issue 30 4th convertible bond type bonds with stock acquisition rights at an issue price ¥100,000,000 per share for the gross proceeds of ¥3,000,000,000 and 10,126 4th Stock Acquisition Rights at an issue price of ¥3,470 per share through Third-Party Allotment for gross proceeds of ¥35,137,220 for the total gross proceeds of ¥3,035,137,220 on May 22, 2023. The transaction will include participation from new investor, SH1, L.P. managed by IA Partners Inc. The shares will be convertible at a conversion price of ¥1,975. The transaction has been approved by the Board of Directors meeting.

The transaction is expected to close on June 16, 2023.