CREA HOLDINGS,Inc. announced that it expects to receive ¥211.124864 million in funding from Cenote Capital Co., Ltd. and another investor
December 25, 2019
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CREA HOLDINGS,Inc. (TSE:1757) announced a private placement of 12,500,000 common shares at an issue price of ¥16 per share for gross proceeds of ¥200,000,000 and 618,048 series 24 warrants at an issue price of ¥18 per share for gross proceeds of ¥11,124,864; for an aggregate gross proceeds of ¥211,124,864 on December 26, 2019. The transaction will include participation from returning investor, MT Capital Management Co., Ltd. and Orion No.1 Fund L.P., a fund managed by Cenote Capital Co., Ltd. for 6,250,000 shares each and 309,024 units of warrants each. The warrants are exercisable into approximately 61,804,800 common shares at an initial exercise price of ¥16 per share and will receive proceeds of ¥988,876,800 post exercise. The company will incur expenses in the transaction, registration-related expenses of ¥4,650,000, valuation expenses of stock acquisition rights of ¥1,500,000, and other administrative expenses of general shareholders' expenses, support for preparing securities registration documents, etc. of ¥7,650,000. The transaction will take place through third-party allocation. The transaction is expected to close on February 21, 2020.
Souken Ace Co Ltd is a Japan-based company mainly engaged in construction business, automobile-related business, cosmetic hygiene-related business. The Company operates through three segments. The Construction Business segment is engaged in housing renovation/maintenance work and construction work. The Automobile-related Business segment develops, manufactures and sells automobile related products. The Cosmetic Hygiene-related Business segment is engaged in the sale of cosmetic products and hygiene related products. The Company is also engaged in investment business and real estate business.