SHIKIGAKU. Co., Ltd. announced a private placement of 860,500 shares of the company at a price of Ñ581 per share for gross proceeds of Ñ499,950,000 on January 20, 2023. The transaction will include participation from new investor TKP Corporation for 9.62% stake, upon completion.

The transaction has been approved by the board of directors of the company. The company will issue the securities through third-party allotment. The transaction is expected to close on February 6, 2023.

The approximate issuance cost under the transaction is Ñ7,500,000, including Ñ4,500,000 for document preparation expenses such as securities registration statements, Ñ2,000,000 for registration-related expenses, and Ñ1,000,000 for commissions related to the issuance of new shares. All the securities issued in the transaction will subject to a hold period of two years.