Crymson Co. Ltd. announced that it has received ¥324 million in funding from Dadu (Hong Kong) Co., Limited.
October 10, 2014 at 12:00 am EDT
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Crymson Co. Ltd. (JASDAQ:2776) announced a private placement of 2,972,500 shares at ¥109 per share for gross proceeds of ¥324,002,500 with Dadu (Hong Kong) Co., Limited on September 24, 2014. The investor will hold 41.21% stake in the company after the transaction. The payment date for the transaction is October 10, 2014. The company will incur issuance expenses of ¥4,000,000; of which ¥1,200,000 will be for credit standing investigation costs, ¥1,700,000 will be for legal fees that include third party committee expenses, etc., and ¥1,100,000 will be for other expenses including document creation expenses, etc. The company will receive net proceeds of ¥320,002,500.
On October 10, 2014, Crymson Co. Ltd. closed the transaction.
SHINTO Holdings, Inc., formerly CRYMSON Co., Ltd., is a Japan-based company mainly engaged in clothing business. The Company operates through three business segments. The Apparel segment is engaged in casual wear planning, production consignment by overseas and domestic manufacturers, and sales operations mainly in wholesale. The main products include T-shirts, trainers and other cut-and-sew products. The Company receives brand licenses from overseas casual wear related companies and sports gear companies. The Company not only use those licenses to their own products, but also provide licenses to companies that manufacture and sell products other than casual wear. The Real Estate-Related Service segment is mainly engaged in the sale and brokerage of real estate properties for the Greater China region and Chinese residents in Japan. The Trading segment sells daily goods and other products in China and Japan.
SHINTO HOLDINGS, INC. 
