SEED Co., Ltd. (JASDAQ:1739) announced a private placement of 1,300 common shares at ¥38,610 per share for gross proceeds of ¥50,193,000 on March 26, 2013. The shares will be issued by third party allocation to new investor Sanei Architecture Planning Co.,Ltd. The investor will acquire 10.57% pursuant to the transaction to own 48.29% in the company concurrent to the completion of the tender offer transaction. The transaction was approved at the board of directors' meeting of the company.

The company will bear expenses of ¥300,000 to receive net proceeds of ¥49,893,000. The expenses include public announcement fees, document creation fees, registration fees, and others. Shozo Kusushita, Hiroki Koike, and Hiroshi Tanose acted as the accountants to the company.

The transaction is expected to close on May 1, 2013.