Renzoku Biologics Co., Ltd announced a private placement of 178,125,000 at a price of ¥13.333333 per share for gross proceeds of ¥2,374,999,941 on March 8, 2024. The transaction will include participation from new investor SIIX Corporation. Post closing of the transaction the company capital will increase from 7,500,000 shares to 185,625,000 shares.

The investor will acquire 96% of the stake in the company. The company is expected to become a consolidated subsidiary of the investor. The transaction is expected completed by March 11, 2024.

The transaction has been approved by the board of directors of the investor.