Solasia Pharma K.K. announced a private placement of 40 1% series 3 unsecured non-convertible bonds at a price of ¥12,500,000 per bond for the gross proceeds of ¥500,000,000 and 433,000 14th stock acquisition rights at a price of ¥10 per warrant for the gross proceeds of ¥4,330,000 on February 15, 2024. The bonds carry a coupon rate of 1% per annum and is expected to close on March 4, 2024. The transaction has been approved by the shareholders of the company.

The company expects estimated net proceeds ¥1,693,030,000 inclusive of amount raised by issuing stock acquisition rights ¥4,330,000 and amount raised by exercising stock acquisition rights ¥1,688,700,000. The bonds will mature on March 3, 2027 and warrant exercise price is ¥39.