Socialwire Co., Ltd. announced a private placement to issue 3,980,200 common shares at a price of ¥286 per share for the aggregate gross proceeds of ¥1,138,337,200 on September 14, 2023. The shares will be issued through third-party allotment. The transaction will include participation from new investor, PRAP Japan, Inc. for 40% shareholding ratio.

The transaction is expected to close on November 20, 2023. The transaction has been approved by the board of directors of the company.